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

As per the Standard on Cost Auditing on Cost Audit Documentation (SCA 102), what does 'audit documentation' mean?

Audit documentation means the 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 not limited to the final report, the entity's cost records or management representations alone.

  1. AOnly the final cost audit report signed and filed by the Cost Auditor
  2. BRecords, in physical or electronic form, including working papers prepared by and for, or obtained and retained by the Cost Auditor, in connection with the auditCorrect
  3. COnly the cost records maintained by the entity and handed over to the auditor
  4. DOnly the written representations obtained from the management of 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 the audit. The other options restrict it to a single document type, which is narrower than the definition.

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