A Firm of Independent Auditors Must Establish and Follow Explicit

Multiple Choice

A firm of independent auditors must establish and follow explicit quality control policies and procedures because these standards:

A) are necessary to meet increasing requirements of auditors' liability insurers.
B) give reasonable assurance that the firm as a whole will conform to the auditing standards.
C) include formal filing of records of such policies and procedures.
D) are required by ASIC for auditors of all entities.