Most Accounting and Auditing Professionals Agree That When an Audit

Multiple Choice

Most accounting and auditing professionals agree that when an audit has failed to uncover material misstatements,and the wrong type of audit opinion is issued,the audit firm

A) has failed to follow generally accepted auditing standards (GAAS) .
B) deserves to lose the lawsuit.
C) should be asked to defend the quality of the audit.
D) should not be held responsible for the financial loss suffered by others.