Significant findings are to be documented by the auditor,including actions taken to address them and the basis for the final conclusion reached.Findings that might be significant include
A)accounting for complex or unusual assertions or accounting predictions
B)results of audit procedures indicating that the financial statements or disclosure are not misstated or the need for an auditor to revise his previous assessment of the risk of misstatement
C)circumstances that made it difficult for the auditor to apply auditing procedures
D)findings that could result in modifications to the auditor's report
E)adjustments that the auditor has made to the financial statements
F)both A and B
G)both C and D

Question

Quizplus · Accepted Answer

Significant findings that require documentation include those that could result in modifications to the auditor's report (D) and circumstances that made it difficult to apply audit procedures (C). These findings may also lead to a revision of the risk assessment of misstatement (B) and may require the auditor to make adjustments to the financial statements (E). Additionally, findings related to complex or unusual accounting assertions or predictions (A) may be significant and should be documented. Therefore, both C and D are relevant for documenting significant findings.

Significant Findings Are to Be Documented by the Auditor,including Actions