Which of the Following Would Be Considered as Internal Information

question 54

Multiple Choice

Which of the following would be considered as internal information gathered primarily about the integrity of client management?

• A)Communication with client personnel
• B)Communication with the client's bankers and lawyers
• C)Communication with the client's industry peers
• D)A review of articles in industry trade journals

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Definitions:

U.S. Antitrust Laws

Laws in the United States designed to prevent monopolies and promote competition among businesses.

Fraud

Deliberate deception or misrepresentation intended to result in financial or personal gain at the expense of another party.

Auditor Liability

pertains to the legal responsibility auditors bear for failing to detect or report inaccuracies in financial statements they audit, leading to damages for users of these statements.

Normal Audit

A regular examination and evaluation of an entity's financial statements and records to ensure accuracy and compliance with accounting standards and regulations.