Regarding the auditors reasoning process about an account, Ask an Expert

Accounting

Regarding the auditor's reasoning process about an account balance, the auditor should:

A. Simply state a conclusion because anything else would lead to second-guessing by another auditor or a lawyer

B. Identify all of the elements of the reasoning process and document them in a memo.

C. Assure that audit documentation, by itself, is sufficient to support the auditor's opinion without an explicit description of the reasoning process, that is, can stand on its own.

D. Be limited to analysis made by a partner in charge of the engagement.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9450633

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