An Audit Generally Provides No Assurance That Illegal Acts That

question 128

True/False

An audit generally provides no assurance that illegal acts that do not have a direct effect on the financial statements will be detected.

---

Definitions:

Fair Equality

A concept in ethics and political philosophy where individuals are given the same opportunities and conditions for success.

Difference Principle

A social and economic principle that inequalities are only justified if they benefit the most disadvantaged members of society.

Egalitarian Principle

A philosophical doctrine emphasizing equality in rights and opportunities among people.

Market-based Approach

An economic strategy that relies on market forces such as supply and demand to address issues and allocate resources.