On July 1, 2015, the SEC Charged Deloitte & Touche

question 22

Multiple Choice

On July 1, 2015, the SEC charged Deloitte & Touche with violating auditor independence because:

• A) It provided certain nonaudit services to an audit client
• B) It provided audit services to a client when engaged in a business relationship with management
• C) Its consulting affiliate kept a business relationship with a trustee serving on the board of three funds Deloitte audited
• D) Its consulting affiliate owned stock of a firm Deloitte audited

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Definitions:

Tables

A structured arrangement of data made up of rows and columns, which is useful for organizing information.

Matching Fields

In databases and software applications, fields or columns that are compared or linked based on shared values or identifiers.

Records

Documents or files that preserve information or evidence of activities, transactions, or decisions for future reference.

Export Data

The process of converting data into a format that can be used by another application or stored externally.