Hadley, an accountant, accumulates working papers while performing an audit for Ilene. After the audit, these documents belong to
A) Hadley, with Ilene having a right of access to the papers.
B) Ilene, with Hadley having a right of access to the papers.
C) neither Hadley nor Ilene-the papers must be disposed of.
D) the Public Company Accounting Oversight Board.

Question

Hadley, an accountant, accumulates working papers while performing an audit for Ilene. After the audit, these documents belong to​
A) ​Hadley, with Ilene having a right of access to the papers.
B) ​Ilene, with Hadley having a right of access to the papers.
C) ​neither Hadley nor Ilene-the papers must be disposed of.
D) ​the Public Company Accounting Oversight Board.

Quizplus · Accepted Answer

The working papers created by an accountant during an audit are the property of the accountant, but the client has a right to access them.

Hadley, an Accountant, Accumulates Working Papers While Performing an Audit