It is always a good idea for auditors to begin an ...

Auditing Practice Questions Test 1 (Chapters 1-4) Test

It is always a good idea for auditors to begin an audit with the professional skepticism characterized by the assumption that

A) Financial statements and financial data verifiable

B) The professional status of the independent auditor imposes commensurate professional obligations

C) A potential conflict on interest always exists between the auditor and the management of the enterprise under audit

D) In audits of financial statements, the auditor acts exclusively in the capacity of an auditor

✔ Correct Answer:

C) A potential conflict on interest always exists between the auditor and the management of the enterprise under audit