Due to Auditor-Client Confidentiality, Auditing Standards Do Not Require the Auditor

question 44

True/False

Due to auditor-client confidentiality, auditing standards do not require the auditor to document the nature of communications about fraud made to management, the audit committee, or with others.

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Definitions:

Bourgeoisie

Owners of the means of production, including factories, tools, and land. They do not do any physical labor. Their income derives from profits.

Means of Production

The resources—including tools, factories, and land—required to produce goods and services.

Social Classes

Divisions in society based on factors such as wealth, occupation, education, and power.

Source of Income

The origin or means through which an individual, family, or entity receives money or financial support.