Which of the following is true of working papers?
A)Working papers document the auditors' conclusion about control risk and the basis for that conclusion.
B)Working papers are necessary for the junior auditor to keep track of the daily work, but are not important to the overall audit.
C)Working papers document the results of the tests but not the purpose of the control selected for testing.
D)Working papers document the purpose of the control selected for testing and the conclusion made by the auditor, but not the results of the test.

Question

Quizplus · Accepted Answer

Working papers document the auditors' conclusion about control risk and the basis for that conclusion. They also document the purpose of the control selected for testing, the results of the tests, and any exceptions or issues that arose during the audit. Working papers are critical to the overall audit because they provide evidence of the auditor's work and can be used to support their findings and opinions. Junior auditors also rely on working papers to keep track of their daily work and ensure that they are completing their assigned tasks accurately and thoroughly.

Which of the Following Is True of Working Papers