If the Auditor Believes That the Financial Statements Are Not

question 26

Multiple Choice

If the auditor believes that the financial statements are not fairly stated or is unable to reach a conclusion because of insufficient evidence, the auditor

• A) should withdraw from the engagement.
• B) should request an increase in audit fees so that more resources can be used to conduct the audit.
• C) has the responsibility of notifying financial statement users through the auditor's report.
• D) should notify regulators of the circumstances.

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Definitions:

Nucleotides

Organic molecules that serve as the building blocks of nucleic acids like DNA and RNA.

Introns

Non-coding sections of an RNA transcript, or the DNA encoding it, that are spliced out before the mRNA molecule is translated into protein.

Pre-mRNA

is the initial form of mRNA produced by transcription in eukaryotic cells before undergoing modification to become mature mRNA.

Protein

Protein is a macromolecule composed of amino acids, essential for the structure, function, and regulation of the body's cells, tissues, and organs.