Independence Is Assessed in the Eyes of External Users and Regulators.Which

question 37

Multiple Choice

Independence is assessed in the eyes of external users and regulators.Which of the following is a tool that helps the auditor identify whether the auditor is independent for a particular audit engagement?

• A)completion of independence forms at time of employment
• B)an independence threat analysis
• C)an audit risk model assessment for each engagement
• D)professional skepticism when assessing control risks

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Definitions:

Fetal Shunts

Natural bypass mechanisms in a fetus’s circulatory system that direct blood away from the lungs and liver, which are not fully functional until after birth.

Physiologic Change

Alterations in the body's normal biological functions due to various causes, such as aging, disease, or environmental factors.

Electrolytes

Minerals in the body that have an electric charge, crucial for various bodily functions including nerve signaling and muscle contraction.

Gastrointestinal Tract

The series of hollow organs joined in a long, twisting tube from the mouth to the anus, including the stomach and intestines, that digest food and absorb nutrients and water.