In addition to including on each working paper the name of the client,the period covered,the date of preparation,and an index code,each working paper should clearly include
A)the name of the preparer and a description of the contents.
B)symbols used and a reconciliation to the general ledger balance.
C)audit working paper steps that were completed.
D)the nature of the transaction-based risk that is being audited.

Question

Quizplus · Accepted Answer

Including the name of the preparer and a clear description of the contents ensures that the working paper can be traced back to the person who prepared it and provides a clear understanding of its purpose and contents. Symbols used and audit steps completed may also be helpful, but they are not as essential as including the preparer's name and a description of contents. The nature of transaction-based risk being audited is typically documented in the audit plan or program, not in the working papers.

In Addition to Including on Each Working Paper the Name