i. Permanent file (information of continuing importance)
• Engagement letters
• Legal documents such as prospectuses, leases, sales agreement
• Details of the history of the client’s business
• Previous years’ signed accounts, analytical review and management letters
• Procurement systems notes, previous years’ control questionnaires
ii. Current file (information of relevance to current year’s audit)
• Procurement records
• Accounts checklists
• A summary of unadjusted errors
• Review notes
• Audit planning memorandum
• Time budgets and summaries
• Letter of representation
• Management letter
• Notes of board minutes
• Communications with third parties
• A lead schedule including details of the figures to be included in the
accounts
• Problems encountered and conclusions drawn
• Audit programmes
• Analytical review
• Details of substantive tests and tests of control
