Audit documentation prepared on audits of public clients is the property of the
A) Shareholders.
B) Auditor.
C) Management of the entity being audited.
D) SEC.

Question

Quizplus · Accepted Answer

Audit documentation is considered the property of the auditor, and the auditor has the right to retain it or dispose of it as they see fit. However, in some cases, the auditor may be obligated to provide access to the documentation to regulatory bodies such as the SEC. The shareholders and management of the entity being audited do not have ownership rights over the audit documentation.

Audit Documentation Prepared on Audits of Public Clients Is the Property