ASR CH. 10

Front

The preparation of documentations is a legal requirement

Back

False

Front

Documentation assists team members to direct and supervise work done

Back

True

Front

Documentation may be in paper or electronic form

Back

True

Front

Which one of the following reflects the number of years for which the ICAEW requires firm to retain their audit documentation after the end of the accounting period to which the documentation relates: 5, 6, 7, 10?

Back

6

Front

James LLP are the auditors of Eye Ltd. Eye Ltd has asked to have a look at James LLP's working papers in respect of the ongoing audit of its financial statements. What should be the course of action taken by James LLP to comply with ICAEW Code of Ethics?

Back

Show Eye Ltd the working papers only at James LLP's discretion and only those documents that will not prejudice the audit.

Front

Reason preparing audit documentation: Enable an experienced auditor to carry out quality control reviews

Back

True

Front

Reason preparing audit documentation: Provide evidence of audit work carried out in the event of a legal dispute

Back

True

Front

Reason preparing audit documentation: Retain a record of matters of continuing significance to future audits

Back

True

Front

Working papers belong to auditors

Back

True

Front

Auditors prepare working papers on a voluntary basis

Back

False