In Situations in Which the CPA or the CPA's Assistants

question 43

Multiple Choice

In situations in which the CPA or the CPA's assistants are not qualified to perform the audit work, which of the following is not an option the CPA or the CPA firm has?

• A) The CPA and the CPA's assistants have a professional obligation to acquire the required knowledge and skills.
• B) The CPA and the CPA's assistants should simply rely more upon the client's representations when performing the audit.
• C) The CPA should suggest someone else or another CPA firm which is qualified to perform the work.
• D) The CPA should decline the audit engagement.

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Definitions:

Predictability

The degree to which a future event or outcome can be forecasted based on present or past data.

Reliability

The degree to which the result of a measurement, calculation, or specification can be depended on to be accurate.

Measurement

The process of obtaining a quantitative description of an attribute or phenomenon, often by comparing it to a standard unit.

Predictability

The ability to accurately forecast the outcome of a process or the occurrence of an event based on current knowledge or past experience.