A PA,having Given Consent to a Client to Include Reviewed

question 27

Multiple Choice

A PA,having given consent to a client to include reviewed financial statements and the related review report in a loan application,becomes aware that an error was made in the reproduced statements.What are the PA's responsibilities in such a case?

• A)To contact all users of the information to advise them of the error.
• B)The auditor has no responsibility related to the erroneous information,because no audit was performed on the information.
• C)To ensure the client signs a waiver exonerating the PA from any responsibility for loss or damage arising from the use of the financial statements.
• D)To advise the client of the error.

Identify the core elements that constitute ethics within organizations.

Understand the importance and role of a whistleblower in maintaining an ethical climate.

Comprehend the virtuous cycle of corporate profits and good social performance.

Understand the significance of integrity in leadership and its impact on organizational culture.

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Definitions:

Self-tender Offer

A situation where a company offers to buy back its own shares from shareholders, usually at a premium over the current market price.

Shareholders

Individuals or entities that own one or more shares in a company, giving them partial ownership.

Stock

Equity or shares representing ownership interest in a company or corporation, giving shareholders a claim on part of the company's assets and earnings.

Quorum

The minimum number of members of a deliberative assembly necessary to conduct the business of that group.