2. Current File
The current file contains all audit documentation applicable to the year under audit, and
generally includes the following audit documentation;
a. The audit plan (audit program).
b. Financial statements and the auditor's report.
c. Working trial balance, adjusting journal entries, and reclassification entries.
d. Letters of confirmation and representation (e.g., letters from attorneys, a
management representation letter, and confirmation responses).
e. Analyses, worksheets, issues memoranda, and schedules or commentaries
prepared or obtained by the auditor. Note that related accounts, such as notes
receivable and interest income, are often analyzed together.
f. Abstracts or copies of entity documents, such as contracts or agreements
examined to evaluate the accounting for significant transactions.
g. Summaries of significant audit findings or issues (see below), actions taken, and
h. Records of tests of controls and substantive tests that include identification of
specific items selected for testing (i.e., the source from which the items were
selected and specific selection criteria).