Annual Audit Manual

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1151 Other documentation considerations
Apr-2018

In This Section

Specific CAS documentation requirements in addition to CAS 230

Other documentation considerations

Specific CAS documentation requirements in addition to CAS 230

CAS Guidance

Specific Audit Documentation Requirements in Other CASs

This list identifies paragraphs in other CASs (other than CAS 230) in effect for audits of financial statements for periods beginning on or after December 15, 2010 that contain specific documentation requirements. The list is not a substitute for considering the requirements and related application and other explanatory material in CASs:

  • CAS 210, “Agreeing the Terms of Audit Engagements”—paragraphs 10–12

  • CAS 220, “Quality Management for an Audit of Financial Statements”—paragraphs 41

  • CAS 240, “The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements”—paragraphs 45‑48

  • CAS 250, “Consideration of Laws and Regulations in an Audit of Financial Statements”—paragraph 30

  • CAS 260, “Communication with Those Charged with Governance”—paragraph 23

  • CAS 300, “Planning an Audit of Financial Statements”—paragraph 12

  • CAS 315, “Identifying and Assessing the Risks of Material Misstatement”—paragraph 38

  • CAS 320, “Materiality in Planning and Performing an Audit”—paragraph 14

  • CAS 330, “The Auditor’s Responses to Assessed Risks”—paragraphs 28‑30

  • CAS 450, “Evaluation of Misstatements Identified during the Audit”—paragraph 15

  • CAS 540, “Auditing Accounting Estimates and Related Disclosures”—paragraph 39

  • CAS 550, “Related Parties”—paragraph 28

  • CAS 600, “Special Considerations—Audits of Group Financial Statements (Including the Work of Component Auditors)”—paragraph 50

  • CAS 610, “Using the Work of Internal Auditors”—paragraphs 36‑37

Departures from CAS Requirements or Objectives

In the event that circumstances prevent compliance with one or more CAS requirements or objectives apply the guidance in OAG Audit 1022 to determine the correct course of action to follow and document all such instances in line with CAS 230 Audit Documentation and OAG Policy.

Other documentation considerations

OAG Guidance

Ordinarily OAG specific documentation guidance relevant to the “other CAS” requirements above is contained in the relevant subject- matter OAG Audit sections.

However, in addition to the above and the general guidance on documentation included in OAG Audit 1111, consider the following specific OAG documentation guidance:

Experienced auditor principle

See OAG Audit 1111 for guidance on general documentation requirements.

Use of specialists and auditors experts

See OAG Audit 3096 for guidance on the documentation considerations in relation to the use of auditor’s experts.

See OAG Audit 3101 for guidance on the documentation considerations in relation to the use of specialists in accounting or auditing.

Consultations

The subject matter of consultations is ordinarily to be documented as a significant matter. See OAG Audit 3081 for guidance on consultations and OAG Audit 1143 for guidance on documenting significant matters.

Significant Matters

The engagement leader, and the quality reviewer where appointed, are required to review all significant matters. See OAG Audit 1141 and OAG Audit 1143 for further guidance on identifying and documenting significant matters.

Significant Contracts and Agreements

Include abstracts or copies of significant contracts or agreements that were examined to evaluate the accounting for significant transactions.

Third Party Evidence

Include written or electronic evidence obtained from third parties, such as confirmations, lawyers’ letters, and other third party correspondence.

Even with regard to some areas of specifically required documentation, judgment needs to be exercised in deciding, for example, whether an item is a significant matter and if so how much documentation is needed, or whether a contract or agreement is significant enough to require an abstract or a copy in the file.

Professional standards and other OAG guidance may contain additional specific documentation requirements for various audit areas.