Workpapers Serve as the Connecting Link Between the Audit Assignment

question 25

Multiple Choice

Workpapers serve as the connecting link between the audit assignment, the auditor's fieldwork, and the final report. Most importantly, the workpapers document the auditor's conclusions and the reasons those conclusions were reached. Workpapers also provide a basis for demonstrating compliance with the IIA's Standards. Among other things, workpapers may include all of the following EXCEPT:

• A) Planning documents and audit procedures
• B) Analysis and test of transactions, processes, and account balances
• C) Results of substantive testing
• D) Audit correspondence that documents the audit conclusions reached

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Definitions:

Community Risk

The potential for harm or adverse effects on a community due to external or internal variables.

Health Care

The organized provision of medical services to individuals or a community.

Fee-For-Service

A payment model where services are unbundled and paid for separately, often used in healthcare.