What is a workpaper?

[lara]

Hey everyone I keep seeing the term workpaper in auditing and accounting discussions — what exactly does it mean? Is it just notes auditors take, or is it a formal document used to record procedures, evidence, and conclusions during an audit? If someone could explain it in simple terms, that would be great

 

[amara]

In auditing and accounting, a work paper (or working paper) is the document that an auditor provides as a copy of the work that he or she has carried out, the evidence they gathered, and the conclusions the auditor reached.
It simply demonstrates the manner in which the auditor arrived at his ultimate audit opinion.

 

[jenny]

In accounting, a workpaper is a document that auditors or accountants use to bolster the data included in financial accounts. It contains specifics like computations, analysis, proof, and justifications for numbers and choices. Workpapers offer a clear audit trail for review, compliance, and future reference, as well as assistance in demonstrating how conclusions were arrived at.

 

[riya]

A workpaper is a document used by accountants or auditors to support the information included in financial statements. It includes details like calculations, analysis, verification, and explanations for figures and decisions. Workpapers help show how conclusions were reached and provide a clear audit trail for review, compliance, and future reference.

 

[Gsusangrey]

A workpaper, also known as a working paper, is a document that an accountant or auditor creates or gathers to document the steps taken, data gathered, and conclusions drawn during a professional engagement. It acts as the official document that backs up the audit opinion, tax returns, and financial statements.

 

[peterkavinsky]

A workpaper is a document accountants or auditors use to record evidence, calculations, and notes while preparing financial statements or conducting an audit. It supports the final reports and shows how conclusions were reached.

 

[karen]

A workpaper is a formal document used in audit, in which the auditors document the procedures that they conducted, the evidence that they collected and the conclusion that they made. It simply demonstrates the way in which the audit opinion was made.