The quantity, type and content of working papers vary with the circumstances, but they should be sufficient to show that the records agree or reconcile with the statements or other information reported on and that the ap

The quantity, type and content of working papers vary with the circumstances, but they should be sufficient to show that the records agree or reconcile with the statements or other information reported on and that the applicable standards of field work have been observed. Working papers ordinarily should include documentation showing that- The work has been adequately planned and supervised, indicating observance of the first standard of field work. A sufficient understanding of internal control has been obtained to plan the audit and to determine the nature, timing and extent of tests to be performed. The audit evidence obtained, the auditing procedures applied and the testing performed have provided sufficient competent evidential matter to afford a reasonable basis for an opinion, indicating observance of the third standard of field work. Working papers are the property of the auditor. The auditor's rights of ownership, however, are subject to ethical limitations relating to the confidential relationship with clients.