If the Auditors Do not Perform Tests of Controls for Certain

question 45

Multiple Choice

If the auditors do not perform tests of controls for certain assertions:

• A)They have performed a substandard audit.
• B)They are not required to communicate significant deficiencies relating to those accounts to management and the board of directors.
• C)They must issue a qualified opinion.
• D)They must assess control risk at the maximum level for those assertions.

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Definitions:

Discharged

The act of formally releasing someone from employment, often implying termination for cause.

Rights Disputes

Refers to conflicts regarding the entitlements or legal rights of parties in a workforce or other contexts.

Contract Provisions

Specific stipulations or conditions outlined within a contract that dictate the terms, responsibilities, and obligations of the parties involved.

Rules-based Approach

A method for decision-making and governance that strictly follows established regulations, procedures, and standards to ensure consistency, fairness, and compliance.