Which of the following is false regarding the use of an audit checklist for disclosures?
A)It is a convenient documentation format.
B)It reminds the auditor of matters that should be considered for disclosure.
C)It can be organized to include relevant professional guidance.
D)It covers all potential unusual circumstances.

Question

Quizplus · Accepted Answer

An audit checklist for disclosures cannot cover all potential unusual circumstances as such situations are often unique, and standardized checklists may not be comprehensive or applicable in all cases. Therefore, auditors require professional judgment and experience to evaluate and determine whether a particular disclosure is necessary or not.

Which of the Following Is False Regarding the Use of an Audit