Which of the following are you unlikely to see in the current file of auditors' working papers?
Correct answer: A. Memorandum & articles of association
- A. Memorandum & articles of association
- B. Audit planning memorandum
- C. Summary of unadjusted errors
- D. Details of the work done on the inventory count
Explanation
The memorandum and articles of association are standing information about the entity and are normally kept in the permanent audit file. The other items relate specifically to the current year's audit work.
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About Auditing
Auditing examines accounting records and financial statements to determine whether they present a reliable and fairly stated position. The subject covers audit objectives, internal controls, audit evidence, materiality, vouching, verification, working papers, auditor independence, audit reports, and the distinction between an audit and accounting or investigation.
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