The Primary Reasons for the Existence of Auditing Standards Is

question 3

Multiple Choice

The primary reasons for the existence of Auditing Standards is:

• A) They are necessary to maintain a cost-effective service.
• B) They will safeguard the auditor when they are sued.
• C) They provide assurance of the minimum standards that should have been employed by the auditor in arriving at the opinion.
• D) All of the above

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Definitions:

Developmental Deadlines

Refer to the specific age by which most individuals have achieved certain developmental milestones, beyond which there may be concerns about developmental delays.

Social Clock

Set of cultural norms or expectations for the times of life when certain important events, such as marriage, parenthood, entry into work, and retirement, should occur.

Midlife Crisis

A period of emotional turmoil in middle age characterized by a desire for change or reassessment of one's life.

Life Events

significant occurrences or changes in a person's life which may have a major impact on their wellbeing and life course.