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:

Blood Vessels

Tubular structures in the body responsible for transporting blood to and from the heart and throughout the body, including arteries, veins, and capillaries.

Striated Involuntary

Relating to muscle tissue that is marked by a pattern of stripes or striations and is not under conscious control, such as the heart muscle.

Axons

Long, slender projections of nerve cells (neurons) that transmit electrical impulses away from the neuron's cell body.

Action Potentials

Rapid changes in the electrical charge of a neuron's membrane, facilitating the transmission of nerve impulses.