If New Information Comes to Light That Would Cause the Auditor

question 131

Multiple Choice

If new information comes to light that would cause the auditor to establish a different level of planning materiality, then the auditor _______.

• A)should examine the information and make adjustments to materiality as needed
• B)issue a qualified opinion as part of the audit report
• C)follow the auditing standards that recommend an appropriate percentage of total assets as a benchmark for planning materiality for all companies
• D)have management of the company select the appropriate benchmark for planning materiality

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Definitions:

Willing to Aggress

The readiness or predisposition of an individual to engage in aggressive behavior.

Wave Scheduling

A system of scheduling in which the number of patients seen each hour is determined by dividing the hour by the length of the average visit and then giving that number of patients appointments with the doctor at the beginning of each hour.

Medical Assistant

A healthcare professional who supports the work of physicians and other health professionals, often in a clerical or administrative capacity.

Physician

A medical professional who diagnoses and treats illnesses and injuries, often holding a degree in medicine.