In the Investigation of a Potential New Client, Besides Inquiring

question 14

Multiple Choice

In the investigation of a potential new client, besides inquiring of the existing auditor, the prospective auditor should make inquires of other third parties. Which of the following is least likely to be included in this inquiry?

• A) legal advisers/solicitors.
• B) bankers.
• C) customers.
• D) the chamber of commerce.

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Definitions:

Delay of Gratification

The ability or decision to postpone immediate satisfaction in order to achieve a future benefit or reward.

Immediate Comforts

Immediate or short-term pleasures or alleviations of discomfort that may not necessarily contribute to long-term well-being.

Human Nature

The innate characteristics, behaviors, and qualities that define humans, including both biological and psychological aspects.

Altruistic

Showing selfless concern for the well-being of others; often characterized by behavior that benefits others at a personal cost.