Auditing and Attestation- Certified Public Accountant (CPA) Practice Exam -

What key aspect should an auditor focus on when reviewing documentation?

1. Ensure all documentation is prepared individually

2. Identify if the audit procedures’ objectives have been met

3. All details must be thoroughly examined

4. Documentation must be complete before engagement review

The correct answer is: Identify if the audit procedures’ objectives have been met

Focusing on whether the objectives of the audit procedures have been met is crucial because this ensures that the audit has achieved its intended purposes. The primary goal of an audit is to gather sufficient evidence to support the auditor's conclusions and opinions regarding the fairness of financial statements. By verifying that the objectives of the audit procedures have been met, the auditor can assess the adequacy and effectiveness of the evidence collected. This step also helps in forming a reliable basis for the audit opinion, as it directly relates to the overall quality and integrity of the audit. While thorough examination of details, complete documentation, and preparing documentation individually can be valuable in certain contexts, they do not address the fundamental aim of an audit as directly as confirming that the objectives of the audit procedures have been met. Ultimately, ensuring that the audit's objectives are achieved is paramount in forming a final judgment on the financial statements under review.