The Legal Term for When an Auditor Issues an Audit

question 1

Multiple Choice

The legal term for when an auditor issues an audit opinion, knowing that an adequate audit was not performed, is a

• A) breach of contract.
• B) tort action for negligence.
• C) constructive fraud.
• D) fraud.

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Definitions:

Natural Rate

The level of any economic variable that is achieved when the economy is at full employment, often used in the context of the natural rate of unemployment.

Public Policy

The principles, often unwritten, on which social laws are based, determined by governmental entities and officials to address public issues.

Information Technology

The study or use of systems (especially computers and telecommunications) for storing, retrieving, and sending information.

Unemployment Insurance

A government program that provides financial assistance to unemployed workers who have lost their jobs through no fault of their own.