Question

A current audit file normally includes _________________.

• A. Copies of the financial information being reported on and the related audit reports.
• B. A record of the study and evaluation of the internal control related to the accounting system.
• C. In case audit of statutory corporation, the Act and Regulations under which the corporation functions.
• D. All of above

Answer 1

The correct option is A Copies of the financial information being reported on and the related audit reports.

Current audit file has documents which are important only for current audit period unlike permanent audit file which have documents which are important from period to period like memorandum, articles , etc.