Which of the Following Is Least likely to Be a Critical

question 27

Multiple Choice

Which of the following is least likely to be a critical audit matter in a public company audit report?

• A)A significant risk identified by the auditor.
• B)A related party transaction.
• C)An audit team member lacking experience in the client's industry.
• D)Matters relating to the company's accounting policies.

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Definitions:

Logarithms

A logarithm with a specified base is the exponent by which the base must be raised to yield a particular number. It is a different way to express exponentiation.

Condense

The process of combining several mathematical expressions or elements into a simpler form.

Equation

A declaration in mathematics that claims two expressions, often comprising variables and constants, are equal.

Logarithm

The degree to which a base, typically 10 or e, must be raised to yield a certain number.