Audit firms use close supervision and review of audit work to ensure that audits are conducted with due professional care.

Question

Quizplus · Accepted Answer

Close supervision and review of audit work is a method used by audit firms to ensure that audits are conducted with due professional care. This helps to minimize the risk of errors, omissions, or misstatements that could potentially impact the accuracy and reliability of the audit findings. By closely supervising and reviewing the work of auditors, the audit firm can identify any issues or concerns and take corrective action to ensure that the audit is completed to a high standard of quality.

Audit Firms Use Close Supervision and Review of Audit Work