If It Is Necessary in an Auditor's Report to Make

question 92

Multiple Choice

If it is necessary in an auditor's report to make reference to the work of the service auditor for outsiders to understand the audit report,then

• A)the auditor's report should indicate that the responsibility is shared with the service organization auditor.
• B)the auditor should state that the service auditor is responsible for the audit opinion.
• C)the service auditor's audit report contained a subject to opinion.
• D)the auditor's report must state that the auditor of the company using the service organization is responsible for the audit opinion.

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Definitions:

Bootstrapping

A self-starting process that is supposed to proceed without external input, often used to describe startups that grow without major external funding.

Penny Pinching

The act of being very careful with money, often by trying to reduce spending.

Seed Money

Initial funding used to start a business, often provided by angel investors, friends, or family.

Resources

Assets, materials, or other necessities that are available for use or could be used to achieve goals.