The Primary Reasons for the Existence of Auditing Standards Is

question 13

Multiple Choice

The primary reasons for the existence of Auditing Standards is:

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

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Definitions:

Implemented

Executed or carried out a plan, decision, or method, making it active or effective.

Inoculate

in a non-medical context, means to protect or prepare someone in advance against adverse conditions or criticism.

Resilient

The ability to quickly recover from difficulties; toughness and adaptability in the face of adversity.

Vulnerable

Exposed to the possibility of being attacked or harmed, either physically or emotionally.