Audit documentation prepared on audits of public entities is the property of the:
A)Shareholders.
B)Auditor.
C)Management of the entity being audited.
D)SEC.

Question

Quizplus · Accepted Answer

Audit documentation prepared on audits of public entities is the property of the auditor. This is in accordance with the auditing standards issued by the American Institute of Certified Public Accountants (AICPA). The auditor should retain the audit documentation for a period of time in accordance with the relevant legal and regulatory requirements. The audit documentation should be made available to third parties only with the permission of the auditor or as required by law.

Audit Documentation Prepared on Audits of Public Entities Is the Property