The Auditor Need Not Inform the Audit Committee About Adjustments

question 54

True/False

The auditor need not inform the audit committee about adjustments arising from the audit that were considered to be material.

---

Definitions:

Toddler

is a young child, especially one who is learning or has recently learned to walk, typically aged between one and three years old.

Oedipal Complex

According to Freud, children erotically manifest tinged desires for the other-sex parent, accompanied by feelings of hostility toward the same-sex parent.

Phallic Stage

A phase in Freudian psychosexual development occurring roughly between the ages of 3 and 6, where the focus of libido is on the genital area.

Identify With

To feel a strong connection or resemblance with someone or something, often leading to empathy or the adoption of similar characteristics.