George Has Been Asked by His Audit Client to Provide

question 86

Multiple Choice

George has been asked by his audit client to provide income tax services including tax planning. Prior to providing such services, George should be certain that:

• A) He first completes the audit
• B) He assesses threats to independence
• C) The CEO pre-approves the performance of such services
• D) The board of directors is informed about such services

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Definitions:

Title

The legal right to own, use, or sell property or assets; also refers to the formal document proving such a right.

Implied Condition

A term or stipulation in a contract that is not expressly stated but is assumed to exist due to the nature of the agreement or the parties' intentions.

Sale of Goods Act

A set of legal regulations governing the sale of goods, ensuring rights, and obligations between buyer and seller are clearly defined.

Breached a Warranty

The act of violating a promise or guarantee made about the condition or functionality of a product or service.