The Auditor's Relationship with Financial Statement Users Is Different from the Relationship

question 48

Multiple Choice

The auditor's relationship with financial statement users is different from the relationship that most professionals have with the users of their services because:

• A) higher standards of professionalism apply.
• B) the users directly remunerate the auditor.
• C) the primary beneficiaries of the audit do not engage the auditor.
• D) of the confidentiality aspects involved.

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Definitions:

Manager

A person in charge of managing or overseeing either a portion or the entirety of a business or comparable entity.

Ratio

A mathematical relationship that compares two numbers or quantities, indicating how much of one value exists per unit of the other.

Positive Emotions

Emotional states or feelings that are desirable and perceived as beneficial, such as happiness, joy, or love.

Joy

A feeling of great pleasure and happiness.