ASA 570 Requires the Auditor to Evaluate Whether There Is

question 35

Multiple Choice

ASA 570 requires the auditor to evaluate whether there is a substantial doubt about a client's ability to continue as a going concern. One of the most important types of evidence to assess the going concern question is:

• A) statistical sampling procedures.
• B) confirmations of creditors.
• C) analytical procedures.
• D) inquiries of client and its legal counsel.

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Definitions:

Primary Grades

The initial stages of formal education typically comprising elementary school grades 1 through 3 or 4, focusing on basic academic learning and socialization skills.

Academic Failure

The inability to achieve expected educational milestones or meet the standards set by educational institutions.

Adequate Stimulation

The appropriate level of sensory, emotional, and intellectual stimulation necessary for healthy development in children.

Inequities

Unfair, avoidable differences arising from poor governance, corruption, or cultural exclusion, often leading to disparities in health, opportunity, and treatment among different populations.