Which of the following is required documentation in an audit in accordance with generally accepted auditing standards?

Question

Quizplus · Accepted Answer

Choice "B" is correct. In an audit conducted in accordance with GAAS, the auditor must document the audit plan, setting forth in detail the procedures necessary to accomplish the engagement's objectives. Choice "A" is incorrect. Documentation of the auditor's understanding of the client's internal control is required, but may take different forms. A narrative, an internal control questionnaire, a flowchart, or simply a memorandum (for a small client) may be sufficient. Choice "C" is incorrect. A planning memo, while recommended, is not required under GAAS. Choice "D" is incorrect. Documentation of the auditor's understanding of the client's internal control is required, but may take different forms: narrative, internal control questionnaire, flowchart, or simply a memorandum (for a small client) may be sufficient. In addition, controls do not assure the achievement of objectives.

Which of the Following Is Required Documentation in an Audit