Why Must an Auditor Act Independently of Any Interest of the Company

question 64

Multiple Choice

Why must an auditor act independently of any interest of the company that has retained him or her to perform the audit?

• A) The auditor must maintain client privilege.
• B) The auditor fulfills a public function.
• C) The auditor must maintain client confidentiality.
• D) The auditor has a duty of care.

Recognize common approaches and reactions to implementing change within organizations.

Explain the significance of BATNA in negotiations and its role in determining negotiation outcomes.

Identify strategies for managing and overcoming resistance to change in organizational settings.

Understand the process of negotiation including the development of alternative deal packages and finding common ground.

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Definitions:

Common Law

A legal system based on court decisions and customs, as opposed to written laws.

Comparative Negligence

A legal doctrine that reduces the amount of damages that a plaintiff can recover in a negligence-based claim, based upon the degree to which the plaintiff's own negligence contributed to the cause of their injuries.

Impostor Rule

A legal principle that specifies when a party may be held liable for fraud or deceit if they knowingly allow another to impersonate them for gain.

Indorsement

The act of signing one's name on the back of a check or other negotiable instrument for the purpose of transferring ownership or providing authorization.