Wrap-up Procedures 11.26

Wrap-up Procedures 11.26.

Wrap-up Procedures

11.26 Independent Review Checklist. Compare the general checklist used by an audit firm to assure that the review of the audit work is thorough and complete (Illustration 11 . 11) with the checklist used by a person independent of the audit (Illustration 11.12).

Required :

A. Which questionnaire is the longest?

B. What questions does each questionnaire ask about the in-charge accountant? About the client?

C. What questions does each checklist ask about the audit report?

D. What is the primary difference between the review questionnaire and the independent review questionnaire? What are the similarities between the two?

11.27 Working Paper Review: Berins & Trichet, Reviseurs d’Entreprises, of Brussels, Belgium has a policy of having their audit papers reviewed by both the partner in charge and an independent reviewer.

Required :

A. Define “working paper”

B. Describe the difference between a regular working paper review and an independent review.

C. What items does the regular reviewer examine? The independent reviewer?

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