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QUESTION 12 Which of the following are included in the permanent file and not in the current file? Debt covenants All testing and evidence gathered

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QUESTION 12 Which of the following are included in the permanent file and not in the current file? Debt covenants All testing and evidence gathered in preparation of the audit report Correspondence with other auditors and specialists Extracts from the minutes of meetings QUESTION 13 One of the key functions of a management letter is to advise management of the auditor's requirements with respect to filing reports with the Securities and Exchange Commission (SEC) attempt to resolve differences of opinion on accounting estimated used by management in which the auditor disagrees inform those charged with governance of the auditor's recommendations for improving its internal controls provide management with some idea as to the audit opinion they will likely receive QUESTION 14 The auditor should always evaluate evidence under the assumption that all information is correct after senior management has had a chance to review and approve it with a questioning mind and attitude of professional skepticism under the assumption that all information is incorrect

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