An additional partner review of the audit and its findings is typically performed by an experienced member of the firm.Which of the following individuals is qualified to perform this concurring partner review?
A)The engagement partner who has worked on the client for three years.
B)An employee of the enforcement division of the SEC.
C)An experienced partner of the firm who did not actively participate on the audit.
D)A partner of another firm or office who knows the client well and who was a vital member of the audit team.

Question

Quizplus · Accepted Answer

An experienced partner of the firm who did not actively participate on the audit is qualified to perform the concurring partner review. This individual has the necessary knowledge and experience to review the audit findings objectively and provide an independent opinion. Choice A is not correct as the engagement partner who was actively involved in the audit cannot provide an independent review. Choice B is not correct as an employee of the enforcement division of the SEC is not associated with the audit firm and cannot provide an independent review. Choice D is not correct as a partner of another firm or office who was a vital member of the audit team would not be independent and objective to perform the concurring partner review.

An Additional Partner Review of the Audit and Its Findings