2025 · Q88
Which one of the following statements about audit documentation is not correct?
General Accounting Principles, Auditing and InsuranceBasic accounting concepts
- AAudit documentation includes audit programmes.
- BAudit file and audit documentation are the same.
- CAudit documentation includes summaries of significant matters.
- DAudit documentation may be recorded on paper or electronic or any other media.
Explanation
Statement B is not correct: the audit file and audit documentation are not the same thing; the audit file is the folder (physical or electronic) that contains the audit documentation. Audit programmes, summaries of significant matters and records on any media are all part of audit documentation.