In the context of an audit of internal controls, the auditor must document all of the following except:
A)the extent to which he or she relied upon work performed by others.
B)the auditor's understanding and evaluation of the design of each of the components of the entity's internal control over financial reporting.
C)transcripts of the auditor's discussion with management concerning the points at which misstatements could occur.
D)the evaluation of any deficiencies discovered that could result in a modification of the auditor's report.

Question

Quizplus · Accepted Answer

While auditors are required to discuss with management the points at which misstatements could occur, they are not required to document transcripts of these discussions. It is important, however, to document the auditor's understanding of the design of internal controls, reliance on work performed by others, and any deficiencies discovered during the audit that could result in a modification of the auditor's report.

In the Context of an Audit of Internal Controls, the Auditor