Which of the Following Best Describes What Is Meant by Generally

question 53

Multiple Choice

Which of the following best describes what is meant by generally accepted auditing standards?

• A)Audit assertions generally determined on audit engagements.
• B)Acts to be performed by the auditor.
• C)Standards of quality for the auditor's performance.
• D)Procedures to be used to gather evidence to support financial statements.

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Definitions:

Delegator

A person or entity that assigns responsibility and authority to another, known as the delegatee, to carry out specific activities.

Performance

The act of fulfilling the requirements as stipulated in a contract or agreement.

Obligor

An individual or entity that is legally bound to fulfill an obligation, such as making a payment or performing a service, under a contract.

Notice

Formal information or warning given to a person or public about an event, decision, or action.