If the Auditor Concludes That There May Be a Going-Concern

question 72

Multiple Choice

If the auditor concludes that there may be a going-concern problem,which of the following should the auditor do?

• A)Withdraw from the engagement.
• B)Issue a qualified or adverse opinion.
• C)Identify and assess management's plan to overcome the problem.
• D)Communicate this fact with management that is one level above the controller.

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Definitions:

Microbiome

All of the microbes (bacteria, viruses, and so on) with all of their genes in a community; here, the millions of microbes of the human body.

Percentile

Percentile is a statistical measure indicating the value below which a given percentage of observations in a group of observations fall, often used in growth charts and test scores to compare an individual’s performance to a population.

Newborn

A baby from birth to about two months of age, during the initial phase of life outside the womb.

Pediatrician

A medical doctor specializing in the physical, behavioral, and mental care of children from birth until adolescence.