When Can an Accountant Release Audit Working Papers

question 32

Multiple Choice

When can an accountant release audit working papers?

• A) Only when a client consents.
• B) Only w hen a court orders disclosure.
• C) At any time at the discretion of the accountant.
• D) Either when a client consents or when a court orders disclosure.

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Definitions:

Capital

Financial assets or resources that businesses use to fund their operations and growth, including equity, debt, and other financial instruments.

Exit Strategies

Plans developed by a business or investor to sell, liquidate, or otherwise exit their position in an investment at an appropriate time.

Due Diligence

The investigation or exercise of care that a reasonable business or person is normally expected to take before entering into an agreement or transaction with another party.

Early-Stage Financing

A stage of financing that involves larger funds provided for companies that have a team in place and a product or service tested or piloted, but have little or no revenue.