Which Is NOT a Valid Circumstance Where Working Papers May

question 10

Multiple Choice

Which is NOT a valid circumstance where working papers may be given to a third party?

• A) when requested by a successor auditor
• B) when permission is granted by the client
• C) when required by law
• D) both A and B

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Definitions:

Contingency Planning

The process of preparing for unexpected events by developing strategies to mitigate their potential impact on operations.

Future States

Future States refer to the potential conditions or scenarios that an organization, system, or individual could experience in the future, considering various planning and strategy approaches.

Zero-based Budget

A budgeting technique where all expenses must be justified for each new period, starting from a "zero base," rather than basing budgets on the previous year's expenditures.

Fixed Amount

A specific, unchanging quantity of money, goods, or services.