Exam 1: Unit 1-10

State whether the following statements are true or false in respect of external auditors' responsibilities a-Auditors are responsible for the financial content of the annual accounts b-Auditors do not have to have absolute assurance that the figures they audit are correct

List the five fundamental ethical principles all auditors must abide by

Explain in no more than 200 words The Theory of Rational Expectations developed by Professor Limperg

Explain, in not more than 500 words the auditors' duties with regard to Money Laundering and the steps they must take in respect of client activity