Once Auditors Have Gathered Sufficient Appropriate Audit Evidence, Evaluated Uncorrected

question 55

Multiple Choice

Once auditors have gathered sufficient appropriate audit evidence, evaluated uncorrected misstatements, and completed the required communications with those charged with governance _______.

• A)the final step is to prepare and issue the independent auditor's report
• B)the final step is to confer with the client's legal counsel
• C)the audit report should be sent to the internal audit function for review
• D)the report should be sent to the SEC for modification and approval

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Definitions:

Implicit Association Test

Reaction-time test to measure attitudes – particularly unpopular attitudes that people might conceal.

Psychiatrists

Medical doctors specialized in the diagnosis, treatment, and prevention of mental, emotional, and behavioral disorders.

Relative Homogeneity Effect

The perception that out-group members are more similar to one another than in-group members, often leading to stereotyping.

Implicit Association Test

A psychological test designed to reveal underlying biases by measuring the speed of association between concepts and evaluations.