Williams, Sparks and Kent audit partners have been conducting the audit for Just Fine Ltd, an importer of fine chocolate. The auditors have requested the clients accounting staff to prepare some of the schedules and analyses. Who retains the property rights for these working papers?
A) ASIC, as all working papers must be lodged with them.
B) Just Fine Ltd, as it is their staff who performed the work.
C) the auditors, as they are the independent contractors.
D) the accounting staff, as they are acting as agents.

Question

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The Answer of Williams, Sparks and Kent audit partners have been conducting the audit for Just Fine Ltd, an importer of fine chocolate. The auditors have requested the clients accounting staff to prepare some of the schedules and analyses. Who retains the property rights for these working papers?
A) ASIC, as all working papers must be lodged with them.
B) Just Fine Ltd, as it is their staff who performed the work.
C) the auditors, as they are the independent contractors.
D) the accounting staff, as they are acting as agents.

Williams, Sparks and Kent Audit Partners Have Been Conducting the Audit