When Performing a Review Service, Auditors Must Make Inquiries of Management

question 104

Multiple Choice

When performing a review service, auditors must make inquiries of management. Which of the following inquiries are typically made of management?

• A) Is each account on the financial statements prepared in conformity with accounting standards and consistently applied?
• B) What unusual or significant transactions occurred this year?
• C) Do you have knowledge of an actual or suspected fraud?
• D) All of the above are inquiries typically made of management.

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Definitions:

Integrity

The quality of being honest and having strong moral principles.

NASW Code

The NASW (National Association of Social Workers) Code of Ethics is a set of guidelines for professional conduct in the field of social work, focused on serving the welfare of individuals and communities.

Trustworthiness

The quality or state of being reliable, dependable, and worthy of trust, often regarded as a fundamental trait in personal and professional relationships.

Confidentiality

The requirement to keep certain information private and not disclose it without proper authorization.