The Public Has Turned to Auditors to Provide Assurance Services

question 40

Multiple Choice

The public has turned to auditors to provide assurance services primarily because:

• A)there is a need to develop new revenue streams for accounting firms.
• B)the integrity and objectivity of auditors increases the public's trust that the underlying information is not materially misstated.
• C)auditors have been proactive in identifying new types of assurance services to market to customers.
• D)audits do not provide reliable information for decision makers.

---

Definitions:

Organized

The state of being systematically arranged or structured, often referring to entities like groups or data that are orderly and coordinated.

Independent Contractor

An individual in business for themselves who provides goods or services to another entity under terms specified in a contract or within a verbal agreement.

Directly Controlled

Refers to a situation or system where decision-making authority and regulation are centrally managed and not delegated.

Specialized Expertise

Detailed knowledge or skill in a particular field or profession, often requiring advanced education or training.