QS Study

Essential Requirements of good Working Paper

Working papers are those papers which contain essential facts about accounts so that the auditor may not have again to go over the accounts of his clients in case he wants to refer to them later on during the course of his audit.

Essential requirements of good working paper: The essential requirements of good working paper are given below –

Completeness: They should contain all the essential information, so that they may be a maximum utility.

Organization and arrangement: For getting maximum utility the documents should be paper organized and arranged.

Clearness: The facts in the working paper should be set out dearly.

Easily Understand: The facts stated should be readily apparent to the reader.

Quality paper: Paper used for working paper should be good quality so that it may not be damaged.

Size: Papers used should be of cons anent and uniform size.

Paper arrangement: Paper should be fastened together arranged in a logical order.

Space: Sufficient space should lest after each not so that any decision taken by the auditor may be taken down in that space.