Auditors Should Obtain Copies of the Client's Code of Ethics

question 163

True/False

Auditors should obtain copies of the client's code of ethics and minutes of the meetings of the board of directors to aid in their understanding of the company's management and governance structure.

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Definitions:

Spreadsheet

A digital tool that organizes data in columns and rows, commonly used for calculations and data analysis.

Cash Flows

The complete volume of financial transactions entering and exiting a business, with a key effect on its financial fluidity.

Investing Activities

Financial transactions and events related to the acquisition or disposal of long-term assets and investments included in a company’s cash flow statement.

Long-Term Assets

Long-term assets are assets that a company expects to use for more than one year, including property, plant, equipment, and intangible assets.