Which of the Following Is False Concerning the Principal CPA

question 29

Multiple Choice

Which of the following is false concerning the principal CPA firm's alternatives when issuing a report when another CPA firm performs part of the audit?

• A) Issue a joint report signed by both CPA firms.
• B) Make no reference to the other CPA firm in the audit report, and issue the standard unqualified opinion.
• C) Make reference to the other auditor in the report by using modified wording (a shared opinion or report).
• D) A qualified opinion or disclaimer, depending on materiality, is required if the principal auditor is not willing to assume any responsibility for the work of the other auditor.

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Definitions:

Managing Resources

Involves effectively and efficiently planning, organizing, directing, and controlling assets for the attainment of organizational objectives.

Servant Leader

A leadership philosophy in which the main goal of the leader is to serve. This is different from traditional leadership where the leader's main focus is the thriving of their company or organizations.

Altruistic Motivation

Being driven to act out of a desire to help others and improve their well-being without expecting anything in return.

Geniality

The quality of having a friendly and cheerful manner, often seen as desirable in leadership to create a positive work environment.