Information Shared by a Client to the Auditor Is Protected

question 84

True/False

Information shared by a client to the auditor is protected under privileged communication laws,therefore,it cannot be subpoenaed by a court of law to be used against the client.

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Definitions:

State Tax Revenue

The income that a state government receives from taxation of individuals and businesses within its jurisdiction.

Federal Spending

Federal spending refers to the government's expenditure on goods, services, and public projects, financed by taxes and borrowing.

Federal Government

The national government of a federal country, such as the United States, which shares power with state and local governments.

Boston Tea Party

A political protest by the American colonists against Great Britain in 1773, where they destroyed an entire shipment of tea sent by the East India Company in defiance of British tea taxes.