The working papers prepared by a CPA in
connection with an audit engagement are
owned by the CPA, subject to certain
limitations. The rationale for this rule is to
a. Protect the working papers from being
subpoenaed.
b. Provide the basis for excluding admission
of the working papers as evidence
because of the privileged
communication rule.
c. Provide the CPA with evidence and
documentation which may be helpful
in the event of a lawsuit.
d. Establish a continuity of relationship with
the client whereby indiscriminate
replacement of CPAs is discouraged
connection with an audit engagement are
owned by the CPA, subject to certain
limitations. The rationale for this rule is to
a. Protect the working papers from being
subpoenaed.
b. Provide the basis for excluding admission
of the working papers as evidence
because of the privileged
communication rule.
c. Provide the CPA with evidence and
documentation which may be helpful
in the event of a lawsuit.
d. Establish a continuity of relationship with
the client whereby indiscriminate
replacement of CPAs is discouraged