Question

The audit manager prepared and reviewed a scoresheet. 1. What is the purpose of this document, 2. at what stage of the audit is it prepared, and 3. what important judgment function(s) does it provide?

Answer 1

Answers:-

1. Purpose of the Audit Document or Score Sheet:

The main purpose of the audit documentation is to provide the principal support for the auditor's report. Other options are not the primary or main purpose of audit documentation but audit documentations are also necessary for these purposes.

2. Audit documents will be done by the Auditor at the final stage or after completion of Audit.

3. important judgment function it provides

1. IT provides information about Business Position or financial Situation.

2. It will provide the are of mistakes that happened, so that we can take precautionary steps for business growth.