In General,which of the Following Statements Is Correct with Respect

question 35

Multiple Choice

In general,which of the following statements is correct with respect to ownership,possession,or access to working papers prepared by a CPA firm in connection with an audit?

• A)The working papers may be obtained by third parties where they appear to be relevant to issues raised in litigation.
• B)The working papers are subject to the privileged communication rule which,in a majority of jurisdictions,prevents third-party access to the working papers.
• C)The working papers are the property of the client after the client pays the fee.
• D)The working papers must be retained by the CPA firm for a period of ten years.

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Definitions:

Federal Assistance

Financial or other support provided by the federal government to states, organizations, or individuals, often for specific projects or purposes.

Access Right

The privilege or ability to enter, retrieve, or make use of data or facilities.

Ethical Decision-Making Model

A structured approach to ensure decisions are made in a morally and ethically sound manner, considering all stakeholders involved.

Autonomy

The capacity to make an informed, uncoerced decision; in ethical and political philosophy, autonomy is often considered a fundamental right.