[SamCPA]

I know work papers belong to auditor and the auditor can refuse giving it to the client. However, do the supporting documents belong to the client or to the auditor?

[Quinacridone]

Supporting documents belong to the client unless they were obtained from a source other than the client (I.e. legal papers obtained from a regulatory agency of some sort). A client has the right to have all supporting docs returned, but no rights to an auditor's working papers.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[Quinacridone]

Supporting documents belong to the client unless they were obtained from a source other than the client (I.e. legal papers obtained from a regulatory agency of some sort). A client has the right to have all supporting docs returned, but no rights to an auditor's working papers.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[msgolds]

Agreed.

Just think of it this way. If you owned a corporation, would you want the auditors to have ownership of your purchase orders, invoices,receipts, legal documents, etc? Those are all proprietary documents that you are giving the auditor the privilege of viewing to support your financial statements.

Similarly, as an auditor, you would not want your auditee to see your working papers, because they may contain information you would not want to reveal to them.. For example, if you set a materiality threshold, this would be documented in your working papers, but you would not want your auditee to know what that threshold is.

BEC - 90 PASSED
FAR - 84 PASSED
AUD - 93 PASSED
REG - 84 PASSED

I DID IT!!!!

Using Becker Self-Study

"If we were put here to carry a great weight, then the very things we hate are here to build those muscles."

[msgolds]

Agreed.

Just think of it this way. If you owned a corporation, would you want the auditors to have ownership of your purchase orders, invoices,receipts, legal documents, etc? Those are all proprietary documents that you are giving the auditor the privilege of viewing to support your financial statements.

Similarly, as an auditor, you would not want your auditee to see your working papers, because they may contain information you would not want to reveal to them.. For example, if you set a materiality threshold, this would be documented in your working papers, but you would not want your auditee to know what that threshold is.

BEC - 90 PASSED
FAR - 84 PASSED
AUD - 93 PASSED
REG - 84 PASSED

I DID IT!!!!

Using Becker Self-Study

"If we were put here to carry a great weight, then the very things we hate are here to build those muscles."

[Author]

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