Which of the following is not an advantage of the preparation of working paper?

To provide a basis for review of audit work

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To provide a basis for subsequent audits

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To ensure audit work is being carried out as per programme

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To provide a guide for advising another client on similar issues

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Solution

The correct option is C To provide a guide for advising another client on similar issues
A part of auditor's working papers can be made available to client if required; however it is to be retained by auditor only. It can not to be used as a guidance for any similar issues of another client since they are strictly client-specific and very confidential.

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