The Judgement in the Pacific Acceptance Case Was Wide-Ranging and Covered

question 43

Multiple Choice

The judgement in the Pacific Acceptance case was wide-ranging and covered procedures that should exist in a normally competent audit. Which of the following is not accurate concerning procedures listed in the judgement?

• A) promptly report fraud or warn of suspicion of fraud whether material or not
• B) closely supervise and review the work of inexperienced staff.
• C) be very wary about reporting bad news to shareholders always keeping in mind it can affect the value of their investment
• D) audit the whole of the year, not just the year-end balances.

Recognize the role of moral entrepreneurs in shaping societal norms and reactions.

Differentiate between fads, fashions, and social movements.

Analyze case studies to understand how social movements apply theories in real-world scenarios.

Understand the concept of moral panic and the contributing factors that lead to its escalation.

---

Definitions:

If Statement

A conditional programming statement that runs a specific block of code when a certain condition is met.

Else Clause

A part of conditional statements in programming that specifies what action to take when the condition in an if statement is not met.

Macro Action

A programmed instruction that triggers a sequence of operations or commands in software, automating repetitive tasks.

Single Step

A process or operation performed individually or as a distinct part of a sequence in problem-solving or debugging tasks.