Which of the Following Is an Accurate Statement Regarding Principles

question 81

Multiple Choice

Which of the following is an accurate statement regarding principles and auditing standards?

• A) The principles underlying an audit give specific guidance to an auditor when a problem arises in an audit.
• B) The principles underlying an audit state that the only objective of an audit is to provide financial statement users with an opinion.
• C) All auditing standards issued by the PCAOB are given two classification numbers.
• D) The Statement on Auditing Standard (SAS) number identifies the order in which it was issued in relation to other SASs.

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Definitions:

Outcome-Based Ethics

An ethical theory that focuses on the outcomes or results of actions to determine their morality.

Peanut Allergies

An immune system reaction that occurs soon after exposure to peanuts, causing a range of symptoms from mild irritation to severe anaphylaxis.

Principle of Rights Theory

An ethical framework stating that actions are right if they respect the rights of individuals.

Affects the Rights

Impacts or alters the legal entitlements and privileges of an individual or group.