Inquiries of Management Are Used to Help Identify Subsequent Events

question 45

Multiple Choice

Inquiries of management are used to help identify subsequent events.To help obtain meaningful answers

• A)the standard firm checklist should be followed.
• B)these inquiries must be conducted with the proper client personnel.
• C)the inquiries should be conducted by senior audit personnel.
• D)they should be asked after the effective date of the audit report.

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Definitions:

Formal Element

Structured or officially sanctioned components of an organization or system, including rules, policies, and organizational structures.

Communication Channels

The mediums through which information is transmitted from one entity to another, including verbal, non-verbal, written, and digital forms.

Collective Well-Being

The overall health, happiness, and prosperity of a group or community, as opposed to just individuals.

Government Sector

Refers to the portion of the economy consisting of government agencies and public services, excluding private companies and businesses.