Statement Regarding Audit Documentation

I would just like to note that I view this standard is one of the fundamental building blocks of both quality auditing and of the Board's oversight of the auditing profession.

The reliability and integrity of the audit process is inseparable from the existence of a complete and understandable written record of the work that the auditor performed, of the conclusions that the auditor reached, and of the evidence that supports those conclusions. And, as a corollary, in order for the Board's inspectors to do their job, clear and comprehensive documentation standards are essential. Without such standards, we would not be able to assess whether firms are following the professional standards when they audit public companies.

Related Information