CA Inter P5 · Chapter 6 · Question 6 of 9
Which of the following would ordinarily be kept in the permanent audit file rather than the current file?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) Copies of the memorandum and articles of association and long-term contracts
Explanation
The permanent file contains information of continuing importance to future audits, such as constitutional documents, long-term agreements, organisation charts and accounting manuals. The current file holds working papers relating to the current year's audit, such as reconciliations, lead schedules and confirmations.
More Audit Documentation MCQs
- 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:
- Q1Under SA 230, audit documentation primarily provides:
- Q2The audit working papers prepared during the audit of Ananya Foods Ltd. are the property of:
- Q3The assembly of the final audit file after the date of the auditor's report is an administrative process. An appropriate time limit within…