SA 230 deals with:
AFraud
BAudit documentation
CRisk assessment
DGoing concern
Answer & Solution
Correct answer: C. Risk assessment
1. SA 230 "Audit Documentation" governs working papers.
2. It requires sufficient and appropriate documentation for an experienced auditor to understand the audit.
3. Retention period: 7 years from date of report (per ICAI).
_Source: ICAI BoS CA Final Paper 3, Ch 6 "Standards on Auditing and Professional Ethics"_
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