which of the following is not the component of permanent file
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Permanent files are relevant for audit from period to period.
Company memorandum, articles, legal contracts, significant audit observations of earlier years, etc are some of the documents available in permanent audit file.
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Explanation:
Definition of permanent file: A permanent file is a collection of records that external auditors can refer to on a regular basis. The information in the file is designed to be accessed multiple times throughout subsequent audits to aid the audit team in their work.
Period to period, permanent files are relevant for audit.
Some of the documents in the permanent audit file also include organization memorandum, articles, legal contracts, key audit observations from previous years, and so on.
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