Which of the Following Statements Is True Concerning Auditors' Responsibilities

question 16

Multiple Choice

Which of the following statements is true concerning auditors' responsibilities during the audit?

• A)Auditors must exercise the level of care,skill,and judgment expected of a reasonably prudent auditor under the circumstances.
• B)Auditors must plan the audit to gather sufficient competent evidence to guarantee the accuracy of the financial statements.
• C)Auditors are strictly liable for failures to discover client fraud.
• D)Auditors are not liable unless they commit gross negligence or intentionally disregard generally accepted auditing standards.

---

Definitions:

Photogenic Events

Situations or occurrences that are visually appealing and well-suited for photography.

Federal Communications Commission

A U.S. government agency responsible for regulating interstate and international communications by radio, television, wire, satellite, and cable.

Electronic Media

Media that use electronics or electromechanical energy for the end-user (audience) to access the content, such as radio, television, and the internet.

Government Oversight

The process of monitoring and supervising government actions and organizations to ensure accountability and efficiency.