Auditors Communicating Directly with a Client's Bank Regarding the Existence

question 112

Multiple Choice

Auditors communicating directly with a client's bank regarding the existence of the client's cash account balances at year-end would be an example of an:

• A)audit issue
• B)independent source
• C)internal source
• D)illegal communication

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Definitions:

New-product Ideas

Concepts or propositions for new goods or services that a business can potentially develop to meet consumer needs or open new markets.

Crowdsourcing

The practice of obtaining information, ideas, or content by soliciting contributions from a large group of people, especially from an online community.

Regulators

Entities or individuals responsible for making and enforcing rules and standards to control or manage activities, often in industries like finance, healthcare, and utilities.

Competitors

Other businesses or individuals that offer similar products or services, vying for the same customer base or market share.