Question

Which of the following is not recorded in current Audit working file?

• A. Financial statement in audit report
• B. Audit programme
• C. Confirmation responses
• D. Articles of incorporation

Answer 1

Answer: (D)

Articles of incorporation

Current Audit file-Below mentioned are current audit file
(i) An index to the file which guides its orderly compilation
(ii) A copy of the duty signed financial statement being Audited and the trail balance
(iii) Extract of minutes of meetings and correspondences relevant to the year under review
(iv) adjusting journal entries
(v) completion check list
(vi) Letter of representations of attorneys
(vii) Audit programs
(vii) Internal control questionnaires
(ix) A scheduled of each major items in the balance sheet
(x) A scheduled of each major items in the profit and loss account
(xi) List of queries and their dispositions