Auditors of Public Companies Have Additional Requirements That Extend Beyond

question 43

Multiple Choice

Auditors of public companies have additional requirements that extend beyond those of the AICPA.Which of the following is not one of those additional requirements?

• A)Preapproval of audit services and permissible nonaudit services by the client's audit committee.
• B)Disclosure by the client of all fees paid to its auditors for audit,audit-related,tax,and other services.
• C)Changing audit firms every seven years with a two-year cooling off period.
• D)Rotating lead audit partners every five years with a five-year cooling off period.

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Definitions:

Exhibitors

Companies or individuals who present films or movies to the public, typically owning or managing movie theaters.

First Amendment

The amendment to the United States Constitution that guarantees freedoms concerning religion, expression, assembly, and the right to petition.

Constitutional Protections

Safeguards provided by a constitution to protect individual rights and freedoms from infringement by the government or other entities.

American Mutoscope

An early motion picture company and the creator of the Mutoscope, a device for viewing moving pictures by flipping through a series of photographs.