Certified Internal Auditor (CIA) Practice Test

What makes a working paper complete?

1. Complies with format requirements.

2. Contains all attributes of an observation.

3. Is clear, concise, and accurate.

4. Satisfies the engagement objective.

The correct answer is: Satisfies the engagement objective.

A working paper is considered complete when it satisfies the engagement objective because it demonstrates that all necessary procedures have been executed and relevant information has been gathered to support the conclusion of the audit. Completeness in this context ensures that the work performed aligns with the goals set for the audit, providing a clear connection between findings and the intended outcome. When working papers meet the engagement objectives, they effectively support the auditor’s rationale and conclusions, enabling stakeholders to understand the basis for the audit results. This is crucial for establishing the credibility and reliability of the audit process, as it reflects the thoroughness of the investigation and the appropriateness of the audit approach. While compliance with format requirements, inclusion of all attributes of an observation, and clarity, conciseness, and accuracy are important characteristics of well-prepared working papers, they do not by themselves guarantee that the papers fulfill the primary purpose of the audit. Ultimately, the completeness of the working paper in addressing the engagement's specific objectives is the most critical measure of its adequacy and utility in the auditing process.