Multiple Choice
Following are several statements regarding accounting records or audit documentation.Which of the statements is correct?
A) Accounting records belong to the client.
B) Documentation of an auditor's understanding of client's internal control system is not necessary.
C) Audit documents may be regarded as a substitute for the client's accounting records.
D) The independent auditor may discard audit documents after two years.
Correct Answer:
Verified
Correct Answer:
Verified
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