During the course of an audit engagement, an auditor prepares and accumulates audit working papers. The audit working papers should then be kept:
A) until the end of seven years after the date of the audit report.
B) until the client ceases to exist.
C) for a period not exceeding three years.
D) forever.

Question

Quizplus · Accepted Answer

According to auditing standards, audit working papers should be retained for a period of seven years after the date of the audit report. This is to ensure that there is sufficient documentation if needed for future reference, such as in the case of legal disputes or regulatory inquiries. It is important for auditors to follow this requirement for professional and legal reasons.

During the Course of an Audit Engagement, an Auditor Prepares