No Reference Is Made in the Auditor's Report to Other

question 145

Multiple Choice

No reference is made in the auditor's report to other auditors who perform a portion of the audit when I. The other auditor audited an immaterial portion of the audit.
II) The other auditor is well known or closely supervised by the principle auditor.
III) The principle auditor has thoroughly reviewed the work of the other auditor.

• A)I and II
• B)I and III
• C)II and III
• D)I,II and III

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Definitions:

Auction

A public sale in which goods or property are sold to the highest bidder.

Creditor

A party or institution to whom money is owed.

Default

The failure to fulfill an obligation, especially the failure to make payments on a loan.

Exempt Property

Assets that cannot be seized by creditors to satisfy a debt, as defined by law.