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Business Studies

Modern Techniques of Managerial Control

The principal...

Question

The principal auditor, as per clarification issued by the ICAI, does not have any right to ____________.

A

visit branches

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B

seek information necessary for audit purpose

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C

incorporate the branch audit report in his audit report

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D

inspect working papers of the branch auditor

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Solution

The correct option is D inspect working papers of the branch auditor
As per the guidelines issued by the ICAI, working papers are property of the auditor who has conducted the audit. Auditor has to keep the working paper file with them.
The principal auditor is not having any right to inspect the working paper file of the branch auditor.

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