'The Audit Documents shall contain sufficient information to enable an Auditor, having no previous connection with the audit, to ascertain from such documents the significant findings and conclusions of the Auditor. Audi

Yes, the given statement is correct. Audit Documentation shall take place throughout the audit process. Working papers shall be complete and appropriately detailed to provide a clear trail of the audit. Audit Documents shall be properly indexed, referenced with and supplemented by the set of working papers. The Audit documentation is important for several reasons including: Confirm and support the Auditor's opinion and reports; Increase the efficiency and effectiveness of the audit; Serve as a source of information for preparing reports and or answering any enquiries from the Auditee or from any other party; Serve as evidence of the Auditor's compliance with applicable standards; Facilitate planning and supervision; Help the Auditor's professional development; Help to ensure that delegated work has been satisfactorily performed; Provide evidence of work done for future reference; The user of the audit report relies upon the audit report with proper documentation; It confirms that the Auditor's report is in conformity with the applicable laws, rules, regulations and standards, etc.