When reference is made to a component auditor, _______.
A) the auditor's responsibility paragraph is modified to indicate the portion of the group financial statements that were audited by the component auditor
B) the auditor's responsibility paragraph is removed, and reference is made to the group financial statements that were audited by the component auditor
C) liability for the fairness of the financial statements is transferred accordingly
D) inherent risk will decrease accordingly
Correct Answer:
Verified
Q41: A key factor in determining which type
Q42: When is a disclaimer of opinion issued?
A)When
Q43: Companies typically present their financial statements in
Q44: The group engagement team _.
A)audits the parent
Q45: Engagement of a component auditor requires an
Q47: Which of the following is NOT a
Q48: The group engagement partner _.
A)shares joint responsibility
Q49: A component auditor is typically_.
A)another audit partner
Q50: If more than one component auditor was
Q51: The group engagement partner typically decides to
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