Final answer:
The audit partner reviews presentation and disclosure assertions when examining the balance sheet's format, which is structured as a T-account with two columns for assets and liabilities.
Step-by-step explanation:
When the audit partner conducts a final review of the format of an entity's balance sheet during the completion of the audit, they are specifically scrutinizing presentation and disclosure assertions. The balance sheet is a financial statement that presents the entity's financial position at a point in time and is formatted as a T-account, showcasing a two-column format. This T-shape is formed by the vertical line down the middle and the horizontal line under the column headings for “Assets” and “Liabilities.” A review of the balance sheet format ensures the proper classification and understandability of the financial information, which is crucial for investors, creditors, and other stakeholders. The audit partner verifies that all elements are correctly listed and that the balance sheet adheres to relevant accounting standards and regulatory requirements.