Question

The working papers for audit engagement (A) are used to document the evidence obtained and the procedures performed by the auditors during the audit process. They provide a basis for the auditor's (B) and serve as evidence of the auditor's (C). Working papers are typically organized into (D), which are used to summarize the audit work performed and the conclusions reached.

Options:
(A)
a. engagement
b. engagement letter
c. engagement plan
d. engagement team
(B)
a. opinions
b. conclusions
c. recommendations
d. reports
(C)
a. work
b. diligence
c. competence
d. independence
(D)
a. sections
b. schedules
c. memoranda
d. all of the above

Answer 1

Working papers for audit engagements are used to document evidence and procedures performed by auditors, serving as evidence of their work and providing a basis for their conclusions.

Step-by-step explanation:

The working papers for audit engagement (A) are used to document the evidence obtained and the procedures performed by the auditors during the audit process. They provide a basis for the auditor's (B) conclusions and serve as evidence of the auditor's (C) work. Working papers are typically organized into (D) sections, which are used to summarize the audit work performed and the conclusions reached.