To ensure that the audit meets the public accounting firm's standard of performance:
A) a financial disclosure checklist is used for every engagement.
B) an audit engagement checklist is completed.
C) the working papers are reviewed by another member of the audit firm.
D) it is common to gather more evidence than is actually necessary.

Question

Quizplus · Accepted Answer

Reviewing the working papers by another member of the audit firm is a standard procedure to ensure that the audit meets the public accounting firm's standards of performance. This review helps ensure that the engagement has been conducted in accordance with professional standards and applicable legal and regulatory requirements. The review is typically performed by a senior auditor or partner who is not directly involved in the audit work. A financial disclosure checklist and an audit engagement checklist may be useful tools for the audit, but they are not sufficient to ensure that the audit meets the standards of performance. Gathering more evidence than necessary may be wasteful and time-consuming and is not necessarily a sign of better performance.

To Ensure That the Audit Meets the Public Accounting Firm's