What is the function of the Document Request List (DRL) during the audit fieldwork?

The Document Request List (DRL) serves a critical role during the audit fieldwork by outlining the specific documents needed for the audit process. This list is essential to ensuring that the audit team has all the necessary information to conduct a thorough examination of the entity’s financial records, compliance status, and internal controls. By clearly detailing the required documents, the DRL helps facilitate effective communication between auditors and the auditee, ensuring that the audit progresses efficiently and that the auditors can gather the relevant evidence without unnecessary delays.

In the context of an audit, having a well-structured DRL is vital as it allows auditors to perform targeted inquiries and helps to minimize the risk of overlooking important information. The documents listed may include financial statements, transaction records, policies, and procedures, amongst others, tailored to the specific nature of the audit.

The other options address functions that are not primary roles of the DRL. While summarizing audit conclusions or tracking time can be integral to the overall audit process, these functions are typically managed through separate documentation or tools. Additionally, establishing communication protocols pertains more to the management of interactions during the audit rather than to the specific listing of documentation required. Therefore, the primary and most accurate representation of the DRL's role is that it