Why Do Auditors Ask About Related Party Transactions and Where

question 20

Essay

Why do auditors ask about related party transactions and where do they typically do this?

---

Definitions:

Geologic Timescale

A system of chronological dating that relates geological strata to time, used by geologists to describe the timing and relationships between events in Earth's history.

Quantitative Data

Numerical data that can be measured and written down with numbers, used to quantify attitudes, opinions, behaviors, and other defined variables.

Temperature Data

Numerical information that represents the measurement of heat energy within a specific area or system, often used in climate and environmental studies.

Chemistry

The scientific discipline that studies the properties, composition, and transformation of substances.