PCAOB Auditing Standard No

question 9

Multiple Choice

PCAOB Auditing Standard No.16 requires the auditor to communicate with the audit committee all but:

• A)Significant accounting policies and practices
• B)Critical accounting practices and policies
• C)Significant unusual transactions
• D)The procedures followed by the auditor in evaluating evidence

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Definitions:

Moral Intelligence

The capacity to understand right from wrong and to behave based on the values that are accepted as ethical and good.

Personal Gain

Advantages or benefits obtained for oneself, often through self-interested actions.

Ethical Choices

Decisions made based on moral principles and values, often reflecting considerations of what is right and fair.

Production Line

A manufacturing process where parts are added in a sequential manner to produce a final product efficiently.