Silver, CPA, Has Been Hired by Andrews Co

question 169

Multiple Choice

Silver, CPA, has been hired by Andrews Co., a publicly held company, to conduct a review of its interim financial information. While performing review procedures, Silver becomes aware of a significant change in the control activities at one of Andrew's branch locations. Which of the following might Silver consider performing in response to this situation?

• A) Making additional inquiries, such as whether management has monitored the changes and considered whether they were operating as intended.
• B) Employing analytical procedures with a less precise expectation.
• C) Both "a" and "b" above.
• D) Neither "a" nor "b" above.

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Definitions:

Social Empathy

The ability to understand and share the feelings of others within a social context.

Developing Resources

The process of identifying, creating, or enhancing assets and means that can be used to achieve goals or improve functionality.

Macro-level Change

Transformations or interventions aimed at influencing larger systems or communities, rather than individual level changes.

Theories

Systematically organized principles or explanations that serve to understand, predict, or explain phenomena.