Each of the Following Activities Could Be Performed by an Independent

question 14

Essay

Each of the following activities could be performed by an independent auditor.  Select whether generally accepted government auditing standards deem each activity Acceptable (A), Prohibited (P), or Require conceptual framework assessment (R) in regarding to independence.
 
________ 1. Reporting to those charged with governance on behalf of management.
________ 2. Providing valuation services.
________ 3. Researching and responding to the audited entity's technical questions on relevant tax laws as an ancillary part of providing tax services.
________ 4. Preparing accounting records and financial statements.
________ 5. Providing internal control monitoring and assessments.
________ 6. Having custody of an audited entity's assets.
________ 7. Setting policies and strategic direction for the audited entity.
________ 8. Educating the audited entity on matters within the technical expertise of the auditors.

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Definitions:

Sufficient Condition

A condition or set of conditions that guarantees the occurrence or the truth of something else but is not always necessary for it to happen.

Electoral College

A body of electors established by the United States Constitution, tasked with electing the president and vice president of the country.

Disconfirming Instances

Instances or examples that challenge or falsify a hypothesis or theory.

Confirmation Bias

The inclination to seek out, understand, prefer, and remember information in a manner that corroborates an individual's existing beliefs or theories.