In What Countries Would One Expect Auditing Standards to Evolve

question 9

Multiple Choice

In what countries would one expect auditing standards to evolve based on the needs perceived by the auditing profession?

• A)code law countries
• B)members of the European Union
• C)countries that follow common law
• D)countries with strong accounting laws

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Definitions:

False Consensus Effect

A cognitive bias whereby people overestimate the degree to which their beliefs, opinions, preferences, values, and habits are normal and typical of those of others.

False Uniqueness Effect

The tendency of people to underestimate the commonality of their abilities and desirable or successful behaviors.

Base Rate Information

Statistical data that represents the general probability of an event or characteristic within a population.

False Consensus

The belief that one's own opinions, beliefs, or behaviors are more common in the general population than they actually are.