Which of the following is an example of audit failure?
A) There is business failure.
B) The client company is insolvent.
C) The auditor failed to use due care and skill in the conduct of the audit.
D) All of the above

Question

Quizplus · Accepted Answer

Audit failure occurs when the auditor fails to use due care and skill in the conduct of the audit. While business failure and insolvency of the client company may be indicators of audit failure, they are not examples of audit failure in and of themselves.

Which of the Following Is an Example of Audit Failure