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Public Accountant Professional Standards (SPAP) the SA Section 339 (PSA No. 15) regulating the Audit Working Paper.
Working Paper is a record that was prepared and stored by the auditors whose contents include audit procedures applied, tests performed, information obtained and conclusions reached in the audit assignment.
In each audit required the preparation of working papers that best suits the conditions of the assignment at hand.
In the Introduction, Section 339 SA SPAP explained that "Auditors must create and maintain working papers, the content and form must be designed to meet the conditions encountered in a particular commitment. The information contained in the working paper is the main notes the work already carried out by the auditors and the conclusions made regarding the issues significant ".
Working paper mainly serves to:
1. As a major supporter for the auditor's report, including observations on the representation of the field work standards. In addition, working paper is also a major supporter of evidence that allows auditors to defend themselves if the work at issue in the future.
2. Assist auditors in auditing the implementation and supervision.
To achieve the above objectives, the paperwork must be planned and used to improve audit execution and seekonomis efficiently as possible. Paper should contain a record of audit procedures are adequate and comprehensive examination conducted in the financial statements and the conclusions reached.
Quantity, form, and content of working papers for the special assignment will vary depending on the circumstances of each assignment. The following factors may affect the auditor's consideration of the quantity, form and content of working papers:
1. The nature of the assignment
2. The nature of the auditor's report
3. The nature of the financial statements, attachments or other information reported by auditors
4. Existing accounting systems to corporate clients
5. At least enough of the internal control accounting
6. The level of supervision and review required
Paragraph 5 SPAP SA Section 339 describes the contents of Working Paper.
Quantity, type, and the contents of working papers varies with the situation faced by auditors, but must simply show that accounting records match the financial statements or other information that is reported and the standard of field work that can be applied have been observed. Usually working paper must contain documentation that shows:
1. The work has been planned and properly supervised
2. Sufficient understanding of internal control has been obtained to plan the audit and determine the nature, time, and the scope of testing has been done
3. Audit evidence has been obtained, the audit procedures have been established, and tests have been conducted, giving sufficient competent evidence as a reasonable basis for our opinion on these financial statements auditan.
So, basically the design process of the audit working papers which are very dependent on adequate expertise and experience of audit field work from an auditor. Also, in my opinion, the power of reason and imaginative power is also very supportive in designing the audit working papers such that the ability to detect fraud or error-fraud financial statement presentation of a company being audited. Furthermore, in my opinion, designing the audit working papers is an art. It takes a good artist to audit can create art in the form of audit working papers good also.
In general, the audit working papers can be classified into 3 groups, namely:
1. Permanent File; contain important information for an ongoing examination and assignments are intended to store historical data or continuous data as an important source of information for the implementation of the audit from year to year. Example: Deed of Establishment of Company, Business Information and Client Business Type (UCBIQ), Loan Agreement and Long-Term Contracts and other.
2. Current File; contains working papers that can be used during the examination year. For example: Draft Auditor's Report, Financial Reports Company (Inhouse / Home Statement), Final Audit Report, Management Letter, Client Representation Letter, Review Points, Audit Planning Working Paper, Working Paper Testing Working Substantive like Balance Sheet, Profit and Loss Working, Paragraph Journal Koreksian Auditor, Audit Program and other paperwork related to the audit year.
3. Tax File; contains information relating to clients in the field of tax liabilities of the current year, previous years and years to come. This file also serves as the basis for charging SPT year running.
Paragraphs 6, 7 and 8 SPAP SA Section 339 regulating the possession and storage of paperwork.
Working paper is owned by the auditor. But the rights and ownership of the paper work is still subject to the limitations set forth in the Rules of Ethics for Public Accountants Compartment relating to confidential relationships with clients.
Often specific worksheets auditors can serve as a source of reference for his client, but the paper should not be viewed as part of, or as a substitute for, the client accounting records.
Auditors must implement adequate procedures to safeguard the security and paperwork should be kept in a period that can meet the needs of practice and the provisions of applicable laws regarding the storage of documents.
Article 44 paragraph (3) Regulation of the Minister of Finance No. 17/PMK.01/2008 on Public Accountant Services requires public accountant and / or KAP to maintain the Independent Auditor's Report, Working Paper and other supporting documents relating to the provision of services for 10 (ten) years.
"The skill of an accountant can always be ascertained by an inspection of his working papers."
- Robert H. Montgomery, Montgomery's Auditing, 1912