Which of the Following Tasks Is Not Commonly Performed by an External

question 14

Multiple Choice

Which of the following tasks is not commonly performed by an external auditor?

• A)External auditors examine transactions,but the number examined is dependent on the strength or weakness of the internal control system.
• B)External auditors evaluate the system of internal controls.
• C)External auditors test whether the internal control system is being followed.
• D)External auditors assume responsibility for the total accuracy of the financial statements.
• E)External auditors inspect a sample of the transactions that are entered into the records of a company.

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Definitions:

Auditing Services

Professional services provided by accountants or auditors to examine and verify a company's financial statements and other financial info to ensure accuracy and compliance with accounting standards and regulations.

Registered Public Accounting Firm

This refers to an accounting firm registered with the Public Company Accounting Oversight Board (PCAOB), authorized to audit public companies.

Model Rules of Professional Conduct

A set of ethical guidelines adopted by the American Bar Association for attorneys to ensure their behavior aligns with professional standards.

American Bar Association

A large voluntary association of lawyers and law students in the United States, which sets academic standards for law schools and formulates ethical codes for the legal profession.