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wo new audit staff associates. John and Tina are discussing the upcoming audit of Glass Enterprises, a large and decentralized istributor of blown glass products throughout the United States, Canada, and Mexico. John and Tina have been advised by their upervisor that as this is the first audit of this client, they will get to see a lot of audit documentation and where the various locumentation is stored by the auditor. Which of the following statements best describes the types of information likely to be collected and retained by the auditor on this first audit? It is likely that more information will be added to the current year's audit file during the initial audit; with less information being added to this file in future audits. The types of information collected and retained by the auditor as part of the initial client audit should be identical to information gathered in future audits, as the auditor must ensure consistency among audits. It is likely that more information will be gathered during the initial audit that will be placed in the permanent audit file; with less information likely being added to this file in future audits. It is probable that due to this being the initial client audit, less information will be gathered during this audit, and more information will be gathered over time, and in future audits

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