Which of the Following Statements Regarding Using the Work of Another

question 37

Multiple Choice

Which of the following statements regarding using the work of another auditor is ?

• A) The group engagement partner will spend more time reviewing the component auditor's work when the component is at risk of material misstatement
• B) The group engagement partner will spend more time reviewing the component auditor's work if the component auditor has a good reputation
• C) The group engagement partner will spend less time reviewing the component auditor's work when the component is at risk of material misstatement
• D) The component auditor sets out the work to be conducted by the group engagement partner

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Definitions:

Short-termism

The focus on achieving immediate results or gains, often at the expense of long-term objectives or sustainability.

Sustainability

The practice of meeting current needs without compromising the ability of future generations to meet theirs, often focusing on environmental conservation and resource management.

Global Consumption

The total amount of goods and services consumed around the world.

Life Cycle

Refers to the series of stages that an organism, product, or service goes through from its beginning to its end.