Generally Accepted Auditing Standards Are

question 21

Multiple Choice

Generally accepted auditing standards are

• A)Specific actions performed by auditors during an examination.
• B)Standards that guide the conduct of an audit examination.
• C)Legal requirements auditors must observe during the audits of public entities.
• D)Standards used by entities in deciding whether to engage or retain the services of auditors.

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Definitions:

Semi-annually

Occurring or calculated twice a year, typically in the context of interest payments or dividends.

Coupon Rate

The yearly interest rate a bond issuer pays to its holders, usually shown as a percent of the bond's nominal value.

Par Value

The nominal or face value of a bond, share of stock, or coupon as stated by the issuer, which is not related to its market value.

Moody's

A credit rating agency that evaluates the creditworthiness of borrowers, ranging from governments to private enterprises, and assigns ratings that reflect the risk of default.