Pressures of Time and Money May Affect the Audit Due

question 31

Multiple Choice

Pressures of time and money may affect the audit due to all of the following EXCEPT ________.

• A)clients want to issue their financial statements by a certain date
• B)clients refusing to pay additional fees for additional audit effort and time
• C)pressures within the CPA firm to complete all audits on a timely basis to avoid incurring costs that may not be recovered
• D)pressures by shareholders to find all misstatements in the financial reports

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Definitions:

Group Polarization

this occurs when the presence of a group intensifies the original opinions of its members, leading to more extreme positions.

Traditional Teams

Groups operating within established boundaries and protocols, often adhering to hierarchical structures.

Virtual Teams

are groups of people who work together over the internet across geographic, time, and organizational boundaries, typically relying on communication technologies.

Geographic Separation

The physical distance between individuals, teams, or entities, which can influence communication, collaboration, and organizational dynamics.