With Respect to the Auditor's Planning of a Year- End

question 71

Multiple Choice

With respect to the auditor's planning of a year- end examination, which one of the following statements is ALWAYS true?

• A) An engagement should not be accepted after the financial year ends.
• B) The client's audit committee should not be told of the specific audit procedures that will be performed.
• C) It is an acceptable practice to carry out substantial parts of the examination at interim dates.
• D) An inventory count must be observed at the balance sheet date.

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Definitions:

Audio And Video

Refers to the technology and devices used to record, process, store, and playback sound and moving images.

Connector

A device or tool that joins electrical terminations to create an electrical circuit, facilitating communication and power supply between devices.

Establish A Theory

The process of developing a principle or explanation that accounts for a set of facts or phenomena, often as a basis for further investigation or experimentation.

Problem

An obstacle or issue that needs to be solved or overcome.