A is corrent because the primary purposes of audit workpapers are to support the auditor’s opinion and to aid in conducting and supervising the audit engagement.
B is incorrect because providing a point of reference for future audits is not a primary purpose. The workpapers would, however, be helpful when considering future examinations.
C is incorrect because the primary purpose of audit workpapers is not to support the underlying concepts included in the preparation of the basic financial statements. The audit workpapers could certainly be expected to include documentation supporting the opinion rendered, which is directly related to the fairness of the presentation of the statements in accordance with GAAP.
D is incorrect because the primary purpose of audit workpapers is not to aid in adequately planning the examination. Audit workpapers should, however, include documentation showing that the work was adequately planned and supervised.
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