Hi Sir, I have 2 statements about the review of audit working papers not so understand, hope you can explain further, thank you.
1. Audit partners will review all working papers on the audit file before issuing an opinion.
-This statement is false. May I know why don’t it be?
2. If working papers have been reviewed there is no quality control issue arising from lack of documentation.
-This statement also false. My understanding is if the working papers have been reviewed then it shouldn’t have big issue.
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Review of Audit Working Papers
5y ago#11. is false because the audit partner will not review ALL - meaning EVERY - working paper. The supervisor reviews the trainees' work, the manager reviews the supervisor's ... the manager will leave a "points for partner" working paper to draw specific matters to their attention.
2. Consider - a marker can only mark what is included in an answer script (i.e. has been documented) - he cannot pass a candidate on the basis of what is not included.
Thank you so much,Kim =?
I understand already ??
5y ago#3You're welcome!
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