Audit documentation is the written record of the basis for the auditor’s conclusions that provides the support for the auditor’s representations, whether those representations are contained in the auditor’s report or otherwise.
The following are benefits of computer based audit working papers:
- Preparation of working papers using computer becomes speedy and less costly;
- It is relatively easy to perform analytical procedures using computers;
- Online review is possible from distant locations
- Also, through using computer to prepare working papers it is possible to make automated processing of adjustments which will save time and reduce risks of errors
- Computer based working papers can be inter-grated with other areas
- Computer based working papers are standardized and easy to use.