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Who forms the final audit opinion based on the evidence obtained from the audit procedures ? Who has the final authority and responsibility for this? Is that engagement partner ?
There is one true/false ques in kaplan kit ..”the audit partner will review all working papers on the audit file before issuing an audit opinion” and the answer is false.
Why so ?Yes it is the engagement partner.
He will not have to review ALL documentation – the senior reviews the juniors’ work, the manager reviews the seniors’ … the partner will review “points for attention of partner” left by the manager and other key audit documentation – but by no means “all”.
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