Engagement Quality Reviews Are Automatically Required for Which Type of Audit

question 41

Multiple Choice

Engagement quality reviews are automatically required for which type of audit client?

• A)All public companies.
• B)All private companies.
• C)All private and public companies.
• D)All listed public entities.

---

Definitions:

International Customer

A customer who resides in a different country from where the goods or services are produced or sold.

Available-for-sale Securities

Financial assets that are neither classified as held-for-trading nor held-to-maturity, which can be sold in the short-term for cash or held till maturity.

Trading Securities

Investments in debt or equity securities bought and held primarily for selling them in the short term to generate income on short-term price differences.

Unrealized Gain or Loss

Refers to the increase or decrease in the value of investments that a company holds but has not yet sold, which affects the financial statements only when realized.