Function of audit documentation

Assignment Help Financial Accounting

Reference no: EM131211107

1) Which of the following functions of audit documentation is incorrect?

Documentation assists audit supervisors to review the quality of work performed.

Documentation assists planning and performing the audit.

Documentation ensures all misstatements are discovered.

Documentation holds auditors accountable for the work performed.

2) Which of the following identities and histories is the auditor least likely to investigate when considering a new client?

Board members

Officers

Past auditors

Stockholders

3) A function of audit documentation is that it should contain evidence of significant items. Which of the following items would be omitted from the list of significant items to report on?

Accounting for unusual transactions

Adjustments for industry-specific standards

Selecting appropriate accounting principles

Transactions involving accounting estimates

Reference no: EM131211107

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