What Should a CPA Do If He/she Concludes a Difference

question 33

Multiple Choice

What should a CPA do if he/she concludes a difference of opinion with an audit supervisor regarding an on-going audit engagement may result in a material misrepresentation of fact or a violation of professional standards?

• A)Quit the job.
• B)Discuss his or her concerns with the supervisor.
• C)Obtain more training.
• D)Search for a certification that focuses on material misrepresentations.

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Definitions:

Efficacy

The ability to produce a desired or intended result, often used in the context of a treatment's effectiveness.

Experimenter Bias

A process where the scientists performing the research influence the results, in order to portray a certain outcome.

Placebo Effects

Psychological or physiological responses seen in individuals receiving an inert treatment, attributed to the belief in the treatment’s efficacy.

Placebo Effect

is a beneficial effect produced by a placebo drug or treatment, which cannot be attributed to the properties of the placebo itself, and must therefore be due to the patient's belief in the treatment.