An Auditor Who Accepts an Audit Engagement and Does Not

Multiple Choice

An auditor who accepts an audit engagement and does not possess the industry expertise of the business entity, should:

A) Engage financial experts familiar with the nature of the business entity.
B) Obtain a knowledge of matters that relate to the nature of the entity's business.
C) Refer a substantial portion of the audit to another CPA who will act as the principal auditor.
D) First inform management that an unqualified opinion cannot be issued.