Which One of the Following Is the Primary Reason for Documenting

question 86

Multiple Choice

Which one of the following is the primary reason for documenting audit work?

• A)To prevent litigation by other parties that question the audit performance.
• B)To provide a stand-alone medium that gives audit conclusions and supports the opinion.
• C)To give the client a full reporting of all work performed on their behalf.
• D)To supply a point of reference for all auditors performing the work subsequently.

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Definitions:

Net Income

The total profit of a company after all expenses and taxes have been subtracted from revenues.

Share

A unit of ownership interest in a corporation or financial asset, entitling the shareholder to a portion of the earnings and assets.

Salary

A fixed amount of money or compensation paid to an employee by an employer, typically on a regular basis, for performing their job.