An Auditor Intends to Use the Work of an Actuary

question 196

Multiple Choice

An auditor intends to use the work of an actuary who has a relationship with the client. Under these circumstances, the auditor:

• A) Is required to disclose the contractual relationship in the auditor's report.
• B) Should assess the risk that the actuary's objectivity might be impaired.
• C) Is not permitted to rely on the actuary because of a lack of independence.
• D) Should communicate this matter to those charged with governance as a significant deficiency in internal control.

Grasp the concept of conformity and its effects on social behavior.

Acknowledge the uniqueness of human sociality and the role of culture in shaping behavior.

Identify different cognitive systems in the human mind and their functions.

Recognize the role of the environment and culture in influencing human behavior and thought processes.

---

Definitions:

Pitch Deck

A presentation created by startups and entrepreneurs that outlines the key aspects of a business plan to potential investors.

Potential Customers

Individuals or entities that are likely to purchase a company’s products or services but have not yet done so.

Traction

Evidence that a product or business is gaining popularity, market share, or revenue, indicating potential success.

Incubators

Organizations designed to nurture and grow early-stage startups by providing resources, support, and services.