When an Auditor Uses the Work of an Expert, Who

question 14

Multiple Choice

When an auditor uses the work of an expert, who has the responsibility for arriving at an overall conclusion regarding the fair presentation of a client's financial statements?

• A) the auditor
• B) the expert
• C) the client's management
• D) the client's audit committee

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Definitions:

Assimilation

In cognitive development, it's the process of taking in new information and incorporating it into existing cognitive schemas.

Accommodation

Adjusting one's behaviors or actions to incorporate the needs or expectations of others, or making physical space suitable for some purpose.

Conservation

The realization that altering an object’s or substance’s appearance does not change its basic properties.

Centration

Focusing attention on one characteristic to the exclusion of all others.