RE: Documentation Guidance

[Rychalski, Joseph]

I normally list the sample on hard copy as it becomes an integral part of the workpaper.  The remaining file is maintained on electronic media and stored in the workpaper.  I also document the sample calculation to support the sample listed.  This way the reviewer of the workpapers can see the total sample if they'd like, but also the methodology followed when pulling your audit sample.  If the reader wants to go deeper they have the opportunity, but not at the sake of file space.

 

This e-mail communication is confidential and is intended only for the individual(s) or entity named above and others who have been specifically authorized to receive it.  If you are not the intended recipient, please do not read, copy, use or disclose the contents of this communication to others.  Please notify the sender that you have received this email in error by replying to the email or by telephoning (212) 644-2663.  Please then delete the email and any copies of it.  Development Corporation for Israel is not responsible for any recommendation, solicitation, offer or agreement or any information about any transaction contained in this communication.  Please review our website www.israelbonds.com for information regarding current investment opportunities and to download copies of all relevant prospectuses.

-----Original Message-----
From: Kaplan, Jim [mailto:[EMAIL PROTECTED]]
Sent: Friday, December 20, 2002 9:30 AM
To: '[EMAIL PROTECTED]'
Subject: Documentation Guidance

I recently received the following question from an AuditNet user. I thought the group might have appropriate responses.

 

I am looking for guidelines or procedures for electronic data
/ files that are used for an audit, but not specifically documented in
hard copy for the workpapers. For example, let's say you extract from
a financial database contract payments into a database or spreadsheet
and it is fairly large. Then you take a sample from this to use for
audit tests.  Not a question about documentation of how you do the sampling
and the testing & results. However, how do you provide documentation on
the audit universe data used for this testing when you may not want to
or need to print out a hard copy of a lot of data, maybe several
hundred pages? Obviously you can save an electronic copy of large files like
this on your hard disk, server's hard disks, CDs, etc. However, how
does the supervisor reviewing your work get at this large electronic data
for audit review and validation purposes?  That is, to validate your
did everything correctly and accurately?