Multiple Choice
Which of the following is the auditor least likely to do when aware of an illegal act?
A) Discuss the matter with the client's legal counsel.
B) Obtain evidence about the potential effect of the illegal act on the financial statements.
C) Contact the local law enforcement officials regarding potential criminal wrongdoing.
D) Consider the impact of the illegal act on the relationship with the company's management.
Correct Answer:

Verified
Correct Answer:
Verified
Q13: When comparing the auditor's responsibility for detecting
Q40: The auditors determine which disclosures must be
Q44: List the four phases of a Financial
Q55: The term audit objective refers to all
Q56: Errors are usually more difficult for an
Q67: The auditor's best defense when material misstatements
Q109: The audit objective of posting and summarization
Q118: The posting and summarization audit objective is
Q128: An audit generally provides no assurance that
Q133: The annual reports of many public companies