Which of the Following Would an Auditor Least Likely Consider

question 104

Multiple Choice

Which of the following would an auditor least likely consider with respect to fair values?

• A) Segregation of duties between those committing the entity to certain transactions and those responsible for undertaking the valuations related to those transactions.
• B) The effect on fair value measurement and disclosures of information available subsequent to the audit.
• C) The role of information technology in determining fair value measurements and disclosures.
• D) Whether the valuation methods used are appropriate in relation to the industry in which the entity operates.

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Definitions:

Brother

A male sibling with whom one shares one or both parents.

Persistent Vegetative State

Cortical death when the person appears awake but is not aware, due to permanent loss of all activity in the cortex.

Legally Recognized

Having formal acknowledgment or validation under the law or by authoritative bodies, conferring certain rights or statuses.

Grieving Adolescent

An adolescent experiencing the emotional, cognitive, physical, and social responses to the loss of a loved one or significant life change.