Here is the synopsis of our sample research paper on Standards for Audit Documentation. Have the paper e-mailed to you 24/7/365.
Essay / Research Paper Abstract
This 4 page paper examines particular standards for documentation as it respects accounting practice. Auditing is discussed as well. Standards are supported. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: RT13_SA620aud.rtf
Buy This Term Paper »
Unformatted sample text from the term paper:
all too often overlooked. In creating a chapter for this firms instruction manual, it is important for a student writing on this subject to examine a variety of objective materials
as well as to provide insights into accounting and auditing practice. AU Section 9326 Evidential Matter for example points to problems where some firms do not feel it is
prudent to prepare documentation because of the IRS rules ("AU Section 9326," 2006). They are afraid that if they have the documentation that the IRS may go through it ("AU
Section 9326," 2006). The fear is understandable. While everything may be above board, they do not want to open themselves up for scrutiny due to a mistake or oversight. Yet,
this is a rather negative way to practice and can cause problems down the road. There are of course many specific requirements when it comes to accounting practice and documentation.
Just because a company does not want proper documentation included is not a reason to ignore specific requirements. A client should be advised that they either must comply with the
law or hire another accountant. A requirement for example is that documentation has to include either copies or abstracts of significant agreements (Wittington & Fischbach, 2002). Another requirement is that
the documentation must meet effectiveness tests (Wittington & Fischbach, 2002). All accountants at this firm must abide proper documentation standards. Auditors will identify and select test items based on their
own practices and decisions (Wittington & Fischbach, 2002). Each auditor should use his or her own judgment, but of course, it is prudent to follow guidelines well enough so that
the choices do not appear suspect. In other words, an accountant must make appropriate choices in any given situation and not ignore pertinent information to appease a client. Of
...