Which of the following best describes an auditor's responsibility regarding whistleblower information?
A) The auditor must evaluate the effectiveness of the audit committee's processes for receiving and evaluating whistleblower information.
B) The auditor must establish a procedure for receiving tips and handling complaints from client personnel.
C) The auditor must complete a checklist identifying key points in the company's procedures for investigating whistleblower accusations.
D) The auditor must require the company to prepare a Form 8-K to report any whistleblower accusations to the SEC.

Question

Quizplus · Accepted Answer

An auditor is responsible for evaluating the effectiveness of the audit committee's processes for receiving and evaluating whistleblower information. This includes assessing the adequacy of the company's procedures for receiving and investigating allegations of fraud or illegal acts. The auditor is not responsible for establishing a procedure for receiving tips and handling complaints or requiring the company to prepare a Form 8-K. The auditor may use a checklist to identify key points in the company's procedures, but this is not the main responsibility.

Which of the Following Best Describes an Auditor's Responsibility Regarding