Multiple Choice
In general,which of the following statements is correct with respect to ownership,possession,or access to working papers prepared by a CPA firm in connection with an audit?
A) The working papers may be obtained by third parties where they appear to be relevant to issues raised in litigation.
B) The working papers are subject to the privileged communication rule which,in a majority of jurisdictions,prevents third-party access to the working papers.
C) The working papers are the property of the client after the client pays the fee.
D) The working papers must be retained by the CPA firm for a period of ten years.
Correct Answer:
Verified
Correct Answer:
Verified
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