If the Auditor Obtains Knowledge About Subsequent Events That Might

question 84

Multiple Choice

If the auditor obtains knowledge about subsequent events that might have a material and adverse effect on the internal control over the financial reporting process,he should

• A)issue an adverse opinion on the effectiveness of internal controls over financial reporting
• B)not consider the information as the subsequent period is beyond the reporting period
• C)include this information in an "other matters" paragraph
• D)include this information in an "emphasis of a matter" paragraph

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Definitions:

Organizational Buyers

Refers to entities such as businesses, governments, and institutions that purchase goods or services for use in the production of other goods and services, for resale, or for general business operations.

Innate Sense

A natural or instinctive ability or understanding, often referred to in the context of intuition or inherent skills.

Marketing Expertise

Specialized knowledge or skill in crafting and executing strategies to promote products, services, or brands effectively to target audiences.

Offering Value

The perceived benefit or satisfaction consumers expect from a product or service, prompting their decision to engage in a transaction.