Auditor’s personal files are a collection of audit evidences, details of audit engagement and details of auditee which are relevant to the audit. Auditor maintains a current year file, which contains details of audit engagement during the current audit period, whereas, a permanent file is maintained which contains information which is not subject to continuous changes based on period. The permanent audit file contains details which are consistent year on year and seldom change, this file would contain information about the company’s organizational structure, business policies, accounting policies, various kinds of standard operating procedure files and such other consistent details. To select: The correct option.

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Answer 1

Question

Chapter 15, Problem 15.18MCQ

To determine

Introduction:

Auditor’s personal files are a collection of audit evidences, details of audit engagement and details of auditee which are relevant to the audit.

Auditor maintains a current year file, which contains details of audit engagement during the current audit period, whereas, a permanent file is maintained which contains information which is not subject to continuous changes based on period.

The permanent audit file contains details which are consistent year on year and seldom change, this file would contain information about the company’s organizational structure, business policies, accounting policies, various kinds of standard operating procedure files and such other consistent details.

To select: The correct option.

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Answer 2

Question

Chapter 15, Problem 15.18MCQ

To determine

Introduction:

Auditor’s personal files are a collection of audit evidences, details of audit engagement and details of auditee which are relevant to the audit.

Auditor maintains a current year file, which contains details of audit engagement during the current audit period, whereas, a permanent file is maintained which contains information which is not subject to continuous changes based on period.

The permanent audit file contains details which are consistent year on year and seldom change, this file would contain information about the company’s organizational structure, business policies, accounting policies, various kinds of standard operating procedure files and such other consistent details.

To select: The correct option.

Expert Solution & Answer

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Answer 3

Question

Chapter 15, Problem 15.18MCQ

To determine

Introduction:

Auditor’s personal files are a collection of audit evidences, details of audit engagement and details of auditee which are relevant to the audit.

Auditor maintains a current year file, which contains details of audit engagement during the current audit period, whereas, a permanent file is maintained which contains information which is not subject to continuous changes based on period.

The permanent audit file contains details which are consistent year on year and seldom change, this file would contain information about the company’s organizational structure, business policies, accounting policies, various kinds of standard operating procedure files and such other consistent details.

To select: The correct option.

Expert Solution & Answer

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Answer 4

Question

Chapter 15, Problem 15.18MCQ

To determine

Introduction:

Auditor’s personal files are a collection of audit evidences, details of audit engagement and details of auditee which are relevant to the audit.

Auditor maintains a current year file, which contains details of audit engagement during the current audit period, whereas, a permanent file is maintained which contains information which is not subject to continuous changes based on period.

The permanent audit file contains details which are consistent year on year and seldom change, this file would contain information about the company’s organizational structure, business policies, accounting policies, various kinds of standard operating procedure files and such other consistent details.

To select: The correct option.

Expert Solution & Answer

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Answer 5

Chapter 15, Problem 15.18MCQ

To determine

Introduction:

Auditor’s personal files are a collection of audit evidences, details of audit engagement and details of auditee which are relevant to the audit.

Auditor maintains a current year file, which contains details of audit engagement during the current audit period, whereas, a permanent file is maintained which contains information which is not subject to continuous changes based on period.

The permanent audit file contains details which are consistent year on year and seldom change, this file would contain information about the company’s organizational structure, business policies, accounting policies, various kinds of standard operating procedure files and such other consistent details.

To select: The correct option.

Answer 6

Chapter 15, Problem 15.18MCQ

To determine

Introduction:

Auditor’s personal files are a collection of audit evidences, details of audit engagement and details of auditee which are relevant to the audit.

Auditor maintains a current year file, which contains details of audit engagement during the current audit period, whereas, a permanent file is maintained which contains information which is not subject to continuous changes based on period.

The permanent audit file contains details which are consistent year on year and seldom change, this file would contain information about the company’s organizational structure, business policies, accounting policies, various kinds of standard operating procedure files and such other consistent details.

To select: The correct option.

Answer 7

Chapter 15, Problem 15.18MCQ

To determine

Introduction:

Auditor’s personal files are a collection of audit evidences, details of audit engagement and details of auditee which are relevant to the audit.

Auditor maintains a current year file, which contains details of audit engagement during the current audit period, whereas, a permanent file is maintained which contains information which is not subject to continuous changes based on period.

The permanent audit file contains details which are consistent year on year and seldom change, this file would contain information about the company’s organizational structure, business policies, accounting policies, various kinds of standard operating procedure files and such other consistent details.

To select: The correct option.

Answer 8

Expert Solution & Answer

Answer 9

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Answer 10

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Answer 11

Ch. 15 - Prob. 15.1RQ Ch. 15 - Prob. 15.2RQ Ch. 15 - Prob. 15.3RQ Ch. 15 - Prob. 15.4RQ Ch. 15 - Prob. 15.5RQ Ch. 15 - Prob. 15.6RQ Ch. 15 - Prob. 15.7RQ Ch. 15 - Prob. 15.8RQ Ch. 15 - Prob. 15.9RQ Ch. 15 - Prob. 15.10RQ

Solution Summary: The author explains that auditor's personal files contain audit evidences, details of audit engagement, and auditee details relevant to the audit.

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Chapter 15 Solutions