When Assets Are Being Verified, Auditors Focus Much of Their

question 13

Multiple Choice

When assets are being verified, auditors focus much of their attention on making sure that the accounts are not overstated.Alternatively, auditors focus their efforts on understatement when auditing liabilities.What is the primary reason for this difference in focus?

• A)Auditors' legal liability
• B)GAAP
• C)GAAS requirements
• D)All of the above

---

Definitions:

Health Insurance Portability and Accountability Act

A United States legislation enacted in 1996, providing data privacy and security provisions for safeguarding medical information.

Personal Health Information

Any data related to an individual's past, present, or future health condition, treatment, or payment, that can identify the person.

Health Care Decision

Choices made regarding medical care or treatments which can range from choosing providers to making decisions about procedures and medications.

Abused

Having been subjected to unfair, harmful, or violent treatment or behavior, often in a consistent or systemic manner.