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 the Australian Securities and Investments Commission for auditors of all entities.