Which of the Following Statements Is True with Respect to the PCAOB

question 75

Multiple Choice

Which of the following statements is true with respect to the PCAOB and SEC's concept of independence when an auditor both prepares financial statements and audits those financial statements for a client?

• A)The auditor is not independent.
• B)The auditor is independent if he or she is able to maintain a level of professional detachment.
• C)The auditor can audit the financial statements only if the audit process does not culminate in the expression of an opinion on the financial statements.
• D)The auditor cannot audit the financial statements since a lack of integrity exists.

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Definitions:

Sleepy

A state in which a person feels a strong desire for sleep or is on the verge of falling asleep.

Sleep Apnea

Sleep apnea is a sleep disorder characterized by pauses in breathing or periods of shallow breathing during sleep, which can lead to disrupted sleep and other health problems.

Adult Men

Mature male individuals, often defined legally and biologically beyond the age of puberty or majority.

REM Sleep

A sleep phase characterized by rapid eye movement, during which dreaming and high brain activity occur.