An Auditor Is Considering Whether the Omission of the Confirmation

question 10

Multiple Choice

An auditor is considering whether the omission of the confirmation of investments impairs the auditor's ability to support a previously expressed unmodified opinion. The auditor need not perform this omitted procedure if:

• A)the results of alternative procedures that were performed compensate for the omission.
• B)the auditor's assessed level of detection risk is low.
• C)the omission is documented in a communication with the audit committee.
• D)no individual investment is material to the financial statements taken as a whole.

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Definitions:

Mores

Deeply held cultural norms and values that embody the moral views of a group or society.

Folkways

Are norms that specify social preferences. Because they are the least important norms, violating them evokes the least severe punishment.

Sociobiologists

Scientists who study the biological underpinnings of social behavior across different species, including humans, aiming to understand how evolution has shaped social interactions and structures.

Mutation

A change in the DNA sequence within an organism's gene or chromosome, leading to variation.