ABSTRACT
Internal auditors are required to document what they did, why they did it, how it was done, and who did it. The general term used to describe these records is workpapers. Since workpapers may be examined by others outside the internal audit department, preparers should not include language that is unprofessional, or opinions not based on facts and informed information. Electronic workpapers may facilitate the document-management process, and provide a centralized repository for them. The number of software packages providing electronic workpaper functionality has increased and are widely used by auditors to facilitate the preparation, review, and archiving of workpapers. Having an electronic workpaper application is not required, but highly recommended. Electronic workpaper software facilitates the creation, review, archiving, and retrieval of audit documents. The functionality is generally similar between applications, but internal auditors planning to purchase an electronic workpaper package should examine the stability, speed, user-friendliness, and reporting capabilities.
