After fieldwork audit procedures are completed, a partner of the CPA firm who has not been involved in the audit performs a second or wrap-up review of the audit documentation. This second review usually focuses on:

Question

Quizplus · Accepted Answer

Choice "A" is correct. The primary purpose of a second partner review is to ensure that the financial statements are presented in accordance with GAAP. Choice "B" is incorrect. A search for fraud is typically not part of a second partner review. Choice "C" is incorrect. The materiality of adjusting entries proposed by the audit staff may be reviewed by a second partner, but they are not the primary focus of such a review. Choice "D" is incorrect. The communication of internal control weaknesses to those charged with governance is not a primary focus of a second partner review.

After Fieldwork Audit Procedures Are Completed, a Partner of the CPA