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:

Subjective Perception

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New Attribute

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A style of learning that focuses on understanding, thinking, and processing rather than rote memorization.