Under Common Law,when Performing an Audit,a CPA

question 52

Multiple Choice

Under common law,when performing an audit,a CPA:

• A)Must exercise the level of care,skill,and judgment expected of a reasonably prudent CPA under the circumstances.
• B)Must strictly adhere to generally accepted accounting principles.
• C)Is strictly liable for failures to discover client fraud.
• D)Is not liable unless the CPA commits gross negligence or intentionally disregards generally accepted auditing standards.

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Definitions:

Burglary

The unlawful entry into a building or structure with the intent to commit theft or any felony.

Criminal Defendant

An individual accused of committing a crime and facing prosecution in a court of law.

Criminal Act

An action or omission that constitutes an offense and is punishable by law, often involving harm to the community or state.

Thomas Theorem

Assertion that things people define as real are real in their consequences.