question archive 1) Which of the following is one method utilized by the auditing profession to assist in maintaining independence? * A
1) Which of the following is one method utilized by the auditing profession to assist in maintaining independence? * A
Subject:AccountingPrice: Bought3
1) Which of the following is one method utilized by the auditing profession to assist in maintaining independence? *
A. quality continuing education in relevant areas.
B. screening of auditors.
C. partner rotation on public engagements every five years.
D. prohibition of audit services on any public client.
2)What is the role of a concurring partner in an audit engagement?
A. to provide a "fresh", quality review of the audit documentation and conclusions and its relationship to the opinion.
B. to go back over the staff, senior and manager work and redo the more difficult areas of the audit
C. to work as a liaison between the audit committee and the audit team should there be disagreements
D. to act as an advocate of the client in order to ensure quality customer service has been given
3) If the auditor does not complete a audit according to the terms of the engagement letter, there is a risk that the auditor will be sued for
A. the Restatement approach.
B. breach of contract.
C. joint and several liability.
D. privity of contract.
