CA Inter P5 · Chapter 6 · Question 3 of 9
The assembly of the final audit file after the date of the auditor's report is an administrative process. An appropriate time limit within which to complete it is ordinarily:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Not more than 60 days after the date of the auditor's report
Explanation
SA 230 requires the auditor to assemble the audit documentation in an audit file and complete the administrative process on a timely basis after the date of the report. The application material to SA 230 indicates that an appropriate time limit is ordinarily not more than 60 days after the date of the auditor's report. Firms build this limit into their quality control (quality management) policies. No new audit procedures are performed and no new conclusions are drawn during assembly.
More Audit Documentation MCQs
- Q5SA 230 requires audit documentation to be sufficient to enable whom to understand the nature, timing and extent of procedures performed…
- Q6Which of the following would ordinarily be kept in the permanent audit file rather than the current file?
- Q7After the auditor's report for Ved Polymers Ltd. was dated, the auditor learns of a fact that existed at that date and performs new audit…
- Q8Which of the following is ordinarily NOT required to be included in audit documentation under SA 230?
- Q9In documenting the nature, timing and extent of audit procedures performed, SA 230 requires the auditor to record: