Before the Group Engagement Partner Chooses to Refer to the Work

question 14

Multiple Choice

Before the group engagement partner chooses to refer to the work of a component auditor he must obtain an understanding of the component auditor.This is done by determining

• A)Whether the component auditor understands and will comply with the ethical requirements relevant to the group audit,and in particular whether the component auditor is competent
• B)The component auditor's professional experience
• C)The extent to which the group engagement partner will be able to be involved in the work of the component auditor
• D)Whether the component auditor will be able to obtain information affecting the consolidation process from the group engagement team
• E)Whether the component auditor operates in a regulatory environment that actively oversees auditors
• F)both A and B
• G)both C and E
• H)both D and E

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Definitions:

Relative Priority

The level of importance of a task or project in comparison to other tasks or projects.

Behavior Taxonomies

Systematic classification schemes for categorizing and understanding different types of behaviors in a structured manner.

Theoretical-Deductive

A reasoning process that involves starting with a general theory or hypothesis and deducing specific predictions or explanations from it.

Meta-Categories

Meta-categories are overarching groups or classifications that organize smaller, related categories or concepts, facilitating analysis and understanding.