Q1) Which of the following is least likely to be relevant to determining the minimum period for which an auditor should retain audit working papers?

Legal requirements

Minimum recommended by the ACCA

The costs of storing and keeping records of files retained

Inland Revenue or other tax authority requirements for the compilation of tax returns

Q2) Which of the following statements regarding the scope and authority of International Standards on Auditing (ISAs) is correct?

ISAs need only be applied where relevant in the circumstances

Departure from an ISA requirement can never be justified

ISAs are to be applied to audits of historical financial information and to assurance engagements

ISAs override local legislation and regulatory requirements that govern an audit