If Auditors Identify Risk Factors That Indicate That the Going

question 17

Multiple Choice

If auditors identify risk factors that indicate that the going concern assumption is in doubt, they will:

• A) Undertake procedures to gather evidence regarding each risk factor.
• B) Refuse to continue as the auditor of their client.
• C) Report the client to the Canada Revenue Agency.
• D) Reduce the extent of further audit testing that they undertake.

---

Definitions:

Property Disposed

The act of transferring or getting rid of property through sale, gift, or other methods.

Probate

The legal process through which a deceased person's estate is validated and administered, involving the resolution of any claims and distribution of the deceased's property under a will.

Uniform Interstate

A term lacking complete information but may refer to laws or regulations designed to create consistency across state lines in certain legal areas.

Family Support Act

Legislation aimed at improving the way child support is established and collected, often to ensure families receive adequate financial support.