When Considering the Desirability of Staff Continuity on an Engagement

question 100

Multiple Choice

When considering the desirability of staff continuity on an engagement, an audit partner must always:

• A) be satisfied that the team has the appropriate competence and capabilities.
• B) ensure confidentiality is not compromised.
• C) ensure the audit staff is satisfied.
• D) ensure the client is satisfied.

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Definitions:

Personal Liability

The legal responsibility of an individual to assume financial obligations or compensate for wrongful acts.

Uniform Partnership Act

Legislation adopted by various states in the U.S. to provide a consistent legal framework governing the operation of partnerships.

Allocation Of Personal Liability

The process of assigning responsibility to individuals for their actions or obligations, particularly in a legal or financial context.

Charging Order

An order that entitles a creditor to collect a partner’s profits.