When an Investigation of the Discovery of Facts Existing at the Report

question 28

Multiple Choice

When an investigation of the discovery of facts existing at the report date confirms the existence of the fact and the auditor believes the information is important to those relying or likely to rely on the financial statements, the auditor should immediately:

• A) take steps to prevent future reliance on the audit report.
• B) notify the SEC or other regulatory agency.
• C) notify the audit committee.
• D) resign from the engagement.
• E) take no action since the auditor is not responsible for such matters.

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Definitions:

Target Heart Rate

A desired range of heartbeats per minute achieved during exercise to gain cardiovascular benefits while minimizing risks.

Exercise Program

A planned, structured set of physical activities designed to achieve specific fitness or health goals.

Maximum

The highest or greatest amount, level, or degree that can be attained or recorded.

Heart Rate

The number of heartbeats per minute, an indicator of cardiovascular health.