Which of the Following Is Not a Restriction Placed on Audit

question 99

Multiple Choice

Which of the following is not a restriction placed on audit partners by Sarbanes-Oxley?

• A) It limits engagement partners to a five-year term as the engagement partner.
• B) It limits other partners associated with the engagement to a seven-year term.
• C) Engagement partners must review nonaudit work to ensure that independence has not been compromised.
• D) Partners who engage in selling services other than audit, review and attestation, to an audit client are not independent with respect to that client.

Grasp the importance and benefits of trade and specialization for individuals and economies.

Understand the function of markets and the role of households and firms within them.

Comprehend the impact of government actions on economic outcomes and the concept of market failure.

Recognize the principles guiding individual decision-making in economics.

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Definitions:

Entire Group

The term refers to all members or elements within a specified collection or ensemble, considered collectively.

Close Friend

A person with whom one shares a deep and intimate bond, marked by feelings of mutual respect, understanding, and affection.

Family Conflict

Tensions and disputes that arise within a family, which can affect relationships and the overall functioning of the family unit.

Child Rearing

The process of supporting and promoting the physical, emotional, social, and intellectual development of a child from infancy to adulthood.