Working papers used by the auditor that record the procedures used to gather evidence should be:
A)Considered the primary support for the financial statements being examined.
B)Viewed as the connecting link between the books of account and the financial statements.
C)Designed to meet the circumstances of the particular engagement.
D)Destroyed when the audited entity ceases to be a client.

Question

Quizplus · Accepted Answer

Working papers are designed to meet the circumstances of the particular engagement. This means that the auditor tailors the working papers to the specific audit and client, and they should not be standardized. The working papers serve as the auditor's record of the evidence obtained and the procedures performed during the audit. They are not considered primary support for the financial statements, but they are important to support the auditor's opinion. Working papers should also be retained for a specified amount of time after the audit is completed, depending on the jurisdiction and professional standards.

Working Papers Used by the Auditor That Record the Procedures