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Didn't know it? Knew it? Embed Code - If you would like this activity on your web page, copy the script below and paste it into
your web page. Auditing - Chapters 1, 2, 3, 4, 5
Which of the following best describes a portion of the auditor's responsibility regarding illegal acts by clients?Which of the following best describes a portion of the auditors' responsibility regarding noncompliance with laws by clients? If audit procedures reveal noncompliance, the auditors should take appropriate actions.
Which of the following is correct regarding the concept of materiality of financial information?The correct answer is option (d) Materiality is a matter of professional judgment. Option (a) is incorrect. Materiality is based on the auditor's professional judgment, not on AICPA.
Which of the following actions may be appropriate if the auditor is unable to agree?Statement 3: If the auditor is unable to agree to a change of the engagement and is not permitted to continue the original engagement, the auditor should withdraw and consider whether there is any obligation, either contractual or otherwise, to report to other parties, such as the board of directors or shareholders, ...
Which of the following describes the responsibility of the auditor?The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether caused by error or fraud.
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