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CMA Final · Cost and Management Audit · Cost Audit Documentation, Audit Process and Execution

According to SCA 102, what does the term 'audit documentation' mean?

Audit documentation means records in physical or electronic form, including working papers prepared by and for, or obtained and retained by, the cost auditor in connection with the performance of the audit. It is not limited to the report or the entity's cost records.

  1. AOnly the final cost audit report signed by the cost auditor
  2. BRecords in physical or electronic form, including working papers prepared by or for, or obtained and retained by, the cost auditor in connection with the auditCorrect
  3. COnly the cost records maintained by the entity under the rules
  4. DOnly the written management representation obtained from the entity

Explanation

SCA 102 defines audit documentation as records in physical or electronic form, including working papers prepared by and for, or obtained and retained by, the cost auditor in connection with performing the audit. It is wider than the report or the entity's own records.

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