A disclosure checklist is a convenient documentation format for evidence that the auditor adequately evaluated the client's disclosures.

Question

Quizplus · Accepted Answer

A disclosure checklist is a commonly used tool to document that the auditor has adequately reviewed and evaluated the client's disclosures in the financial statements, notes, and other supplementary information. The checklist typically includes a list of required disclosures, with columns to indicate whether the disclosure has been made, whether it is accurate and complete, and whether it complies with relevant accounting standards or reporting frameworks. Using a disclosure checklist can help the auditor ensure that nothing important has been overlooked or omitted in the financial statements and can also provide evidence of the auditor's work for future reference.

A Disclosure Checklist Is a Convenient Documentation Format for Evidence