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<h1>CAAS 102: Guidelines for Cost Audit Documentation to Ensure Compliance and Support Peer Reviews, Retain Records for 10 Years.</h1> The Cost Audit and Assurance Standard (CAAS 102) provides guidelines for preparing audit documentation related to cost statements and associated information. It aims to ensure that the documentation offers a sufficient record for the Cost Auditor's Report and evidences compliance with legal and regulatory requirements. The standard outlines the responsibilities of cost auditors, including recording audit procedures, evidence, and conclusions. It mandates timely documentation, noting any deviations from standard procedures, and maintaining records of discussions with clients and third parties. The documentation should be comprehensive, supporting peer reviews, and retained for at least ten years. The standard applies to audits starting from April 1, 2012.