An Audit Partner Has Served as the Lead Audit Partner

question 36

Multiple Choice

An audit partner has served as the lead audit partner on a client engagement for the past eight years.Which of the following is most likely to arise?

• A) The management participation threat
• B) The familiarity threat
• C) The self-review
• D) All of the above

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Definitions:

Initiation Phase

The first phase of a project lifecycle, focusing on defining the project at a broad level, including its purpose, scope, and objectives.

Potential Benefit

A prospective advantage or positive outcome that may arise from a particular action or decision.

Closeout Phase

The final stage in a project where the project is completed, all activities are concluded, and the project is officially closed.

Technology Complexity

The degree of difficulty associated with understanding, implementing, or using a particular technology.