When the Auditor Concludes, Based on Information Obtained And, If

question 27

Multiple Choice

When the auditor concludes, based on information obtained and, if necessary, consultation with legal advisers, that an illegal act has or is likely to have occurred, the auditor should:

• A)express a qualified or adverse opinion, depending on materiality.
• B)notify appropriate law enforcement agencies.
• C)withdraw from the engagement.
• D)consider the effect on the financial report as well as the implications for other aspects of the audit.

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Definitions:

Adults

Individuals who are considered to be fully grown or mature, typically over the age of 18 or 21 depending on the jurisdiction.

Elderly

Individuals, typically aged 65 years and above, often considered in the context of aging processes, healthcare, and societal roles.

Disaster Strikes

A phrase referring to the sudden occurrence of a natural or man-made calamity causing significant harm or distress.

Survivors

Individuals who have lived through a traumatic or life-threatening event and are coping with the aftermath.