PCP - Example audit file for a small company using the International Standards on Auditing 2.0

PCP - Example audit file for a small company using the International Standards on Auditing is a practical, end-to-end example of how an ISA-compliant audit can be documented for a small entity. Designed as a ready-made reference, it helps auditors, trainees, and small firms understand what “good” looks like across the entire engagement, from planning through reporting. It can be used as a template, a training aid, or a quality control benchmark to promote consistency and compliance.

Key features:

• Engagement setup and planning: independence and ethics confirmations, engagement acceptance, overall strategy, and audit plan.
• Materiality and risk: materiality and performance materiality calculations, fraud considerations, and risk assessment with linkage to audit responses.
• Internal control and processes: control walkthroughs, documentation of key controls, and assessment of control risk.
• Audit programs and working papers: tailored procedures for common cycles (revenue, purchases, inventory, fixed assets, cash, payroll), with clear indexing, cross-referencing, and tick-mark legends.
• Evidence and testing: sampling worksheets, substantive analytical procedures, and tests of details with examples of corroborating evidence.
• Completion and reporting: evaluation of misstatements, subsequent events, going-concern assessment, management letter points, representation letter, and a sample auditor’s report.

Benefits:

• Speeds up onboarding and training for staff new to ISA engagements.
• Promotes consistent documentation and audit quality across small audits.
• Serves as a starting point that can be tailored to specific client circumstances.

Intended audience:

• Small and mid-sized audit firms, sole practitioners, and trainees.
• Internal teams seeking a clear illustration of ISA-aligned documentation for smaller entities.
• Educators and students looking for a practical audit file example.

Note: This file is illustrative and does not replace professional judgment. Users should tailor content to the applicable jurisdictional requirements and ethical standards, and to the facts and risks of each engagement.

PCP - Example audit file for a small company using the International Standards on Auditing is used by 1 user of Software Informer. The most popular version of this product among our users is 2.0. The name of the program executable file is autorun.exe.

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