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    Question

    ……… is an audit on a legal entity (the auditee) by two or more auditors to produce a single audit report, thereby sharing responsibility for the audit.

    A Composite audit Correct Answer Incorrect Answer
    B Joint audit Correct Answer Incorrect Answer
    C Syndicate audit Correct Answer Incorrect Answer
    D Group audit Correct Answer Incorrect Answer

    Solution

    A joint audit is anauditon alegal entity(the auditee ) by two or more auditors to produce a singleaudit report, thereby sharing responsibility for the audit. A typical joint audit has audit planning performed jointly andfieldwork allocated to the auditors. A joint audit is different from adual audit, where a dual audit is performed by two independent auditors issuing their own separate reports, which are then used by another auditor that ultimately reports on the entity as a whole.

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