CMA Final · Cost and Management Audit · Cost Audit Programme
Which of the following is stated in SCA 102 as an additional purpose of cost audit documentation, beyond providing evidence of the basis for the auditor's conclusion?
One additional purpose of cost audit documentation under SCA 102 is retaining a record of matters of continuing significance to future cost audits. It does not fix remuneration, set selling prices, or replace the Cost Audit Report.
- AFixing the remuneration payable to the cost auditor
- BRetaining a record of matters of continuing significance to future cost auditsCorrect
- CDetermining the selling price of the entity's products
- DReplacing the need for a Cost Audit Report
Explanation
SCA 102 lists several additional purposes, including assisting planning and performance, supervision and review, accountability, quality control reviews and external inspections, and retaining a record of matters of continuing significance to future cost audits. The other options are not purposes listed in the standard.
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