Which of the Following Statements Concerning the Auditor's Responsibility Paragraph

question 24

Multiple Choice

Which of the following statements concerning the auditor's responsibility paragraph of the audit report is false?

• A)An explanation is made of the scope of the auditor's work.
• B)It is presented after the "responsibilities of management and those charged with governance" paragraph.
• C)Reference can be made to an appendix or website where additional descriptions of auditor responsibilities are described.
• D)It is presented before the opinion paragraph.

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Definitions:

Interest Rate

The portion of a total amount of money that is required as payment for borrowing it, typically expressed on a yearly basis.

Compounded Annually

A method where interest is calculated on the initial principal and also on the accumulated interest of previous periods, applied once a year.

Post-secondary Education

Education that takes place after high school, including college, university, and vocational training.

Trust Fund

A fund comprised of assets, such as stocks, bonds, property, or cash, held in a trust and managed by a trustee for the benefit of someone else.