If the Financial Statements Do Not Present Fairly the Financial

question 34

Multiple Choice

If the financial statements do not present fairly the financial condition of the firm in accordance with applicable financial reporting framework,the auditor should

• A)calculate the correct number and make an adjustment to the financial statements
• B)advise management of the discrepancy and stop auditing until the discrepancy is corrected
• C)gather sufficient evidence to arrive at the correct financial statement number
• D)review the risk assessment and make any necessary revisions

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Definitions:

Staff Education

The process of providing training and development opportunities to staff members in a workplace to enhance their skills and knowledge.

Shared Decision Making

A healthcare approach where clinicians and patients work together to make decisions, balancing risks and expected outcomes with patient preferences and values.

Autonomy

Ability or tendency to function independently.

Responsibility

Carrying out duties associated with a particular role.