Where Would the Auditor Make Mention of Issues Noted During

question 152

Multiple Choice

Where would the auditor make mention of issues noted during audit procedures that are not of audit significance?

• A)Engagement letter.
• B)Management letter.
• C)Representation letter.
• D)Attorney letter.

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Definitions:

Allonge

Accompanying a negotiable instrument, a piece of paper that provides room for an endorsement if no room is available on the instrument itself.

Instrument

A legal document that formalizes an agreement or right, such as a contract, will, or financial instrument.

Endorsement

The act of signing one's name on the back of a check or other negotiable instrument to legally transfer its ownership.

Blank Endorsement

An endorsement on a financial instrument, like a check, where the signature of the endorser is written but no specific endorsee is named, making it payable to the bearer.