A document containing details of the period under audit, and the initials of preparers and reviewers is referred to as ________.
A)an audit working paper
B)an audit plan
C)a management representation letter
D)a positive confirmation

Question

Quizplus · Accepted Answer

An audit working paper is a document containing details of the period under audit and the initials of preparers and reviewers. It serves as evidence of the work done by the auditor and is used to support the auditor's opinion in the final report. An audit plan is a document outlining the scope, objectives, and procedures of the audit. A management representation letter is a letter from management to the auditor confirming certain information related to the financial statements. A positive confirmation is a form sent to a third party to confirm the accuracy of information related to the client's accounts receivable or inventory. None of these options fit the definition provided, so the best choice is A.

A Document Containing Details of the Period Under Audit, and the Initials