What Should a PA Do If Approached by a Client

question 65

Multiple Choice

What should a PA do if approached by a client where he and his firm lack or do not have access to the technical knowledge required to complete the audit?

• A)subcontract the audit to another firm
• B)indicate that they can do a review engagement,not an audit
• C)decline the new audit engagement
• D)conduct the engagement,but prepare a qualified audit report

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Definitions:

Amylase

An enzyme that catalyzes the hydrolysis of starch into sugars.

Trypsin

A digestive enzyme produced in the pancreas and secreted into the small intestine, where it breaks down proteins into smaller peptides.

Small Intestine

The part of the gastrointestinal tract between the stomach and large intestine, where most of the digestion and absorption of nutrients takes place.

Duodenum

The first part of the small intestine immediately beyond the stomach, where most chemical digestion takes place.