Which of the Following Best Describes the Auditor's Reporting Responsibility

question 951

Multiple Choice

Which of the following best describes the auditor's reporting responsibility concerning information accompanying the basic financial statements in an auditor-submitted document?

• A) The auditor has no reporting responsibility concerning information accompanying the basic financial statements.
• B) The auditor should report on the information accompanying the basic financial statements only if the auditor participated in its preparation.
• C) The auditor should report on the information accompanying the basic financial statements only if the auditor did not participate in its preparation.
• D) The auditor should report on all the information included in the document.

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Definitions:

Diagnosis

The identification of the nature and cause of something, often relating to illness or medical conditions, through examination of the symptoms.

Compulsion

A strong, usually irresistible impulse to perform an act, especially one that is irrational or contrary to one's will.

Obsession

A persistent, unwanted, and intrusive thought or urge that causes significant anxiety or distress.

Phobia

An extreme or irrational fear or aversion to a particular object, situation, or activity, significantly impacting an individual's life.