Reference no: EM132690955

Problem 1: The working papers are

A. the primary means of documenting that an adequate audit was conducted in accordance with GAAS.
B. prepared by the? client's internal auditors.
C. used primarily as a basis for the partners to review and reward the work of the? managers, seniors, and staff.
D. the property of the client.

Problem 2: Each working paper should include enough information to fulfill the objectives for which it was designed. For? example, if a working paper is designed to list the detail and show the verification of support of a balance sheet account such as prepaid? insurance, it is essential that the detail on the working paper

A. reconcile the change in costs from last year to this year.
B. use analytical review to consider the reasonableness of the account.
C.use observation to identify controls in place over the transactions.
D. reconcile with the associated general ledger account.