When the Auditors Cannot Satisfy Themselves as to the Accuracy

question 62

True/False

When the auditors cannot satisfy themselves as to the accuracy of ending inventory and a material misstatement may exist,they normally may still give an unmodified (unqualified)opinion on the client's income statement.

---

Definitions:

HIPAA Compliance Officer

A designated person responsible for ensuring that an organization adheres to the Health Insurance Portability and Accountability Act regulations, protecting patient health information.

Protected Patient Information

Protected Patient Information (PPI) pertains to any health information that is safeguarded under privacy regulations to ensure a patient's confidentiality.

Federal Fair Labor Standards Act

U.S. legislation that establishes minimum wage, overtime pay eligibility, recordkeeping, and child labor standards affecting employees in the private sector and in federal, state, and local governments.

Minimum Wage

The lowest hourly pay that employers can legally give to workers.