The Auditor Is Responsible for Evaluating the Likelihood of a Client

question 34

Multiple Choice

The auditor is responsible for evaluating the likelihood of a client continuing as a going concern for a reasonable period of time.What is considered to be a reasonable time period?

• A)One year from the audit report date.
• B)One year from the last day of field work.
• C)One year from the balance sheet date.
• D)Two years from the balance sheet date.

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Definitions:

Transmitted Values

The values and principles that are passed down from one generation to the next, shaping beliefs and behaviors.

Leininger

Refers to Madeleine Leininger, a nursing theorist known for developing the Transcultural Nursing Theory, emphasizing the importance of cultural competency in nursing care.

Folk Medicine

Traditional healing practices and beliefs that are passed down through generations, often using natural remedies and local knowledge.

Cultural Sensitivity

Respect and appreciation for cultural behaviours based upon an understanding of the other person’s perspective