Which of the following is an element of a system of quality control that should be considered by a public accounting firm in establishing its quality control policies and procedures?
A)Lending credibility to a client's financial statements.
B)Using statistical sampling techniques.
C)Acceptance and continuance of client relationships and specific engagements.
D)Membership in the Center for Public Company Audit Firms.

Question

Quizplus · Accepted Answer

Acceptance and continuance of client relationships and specific engagements is crucial in maintaining and assuring the quality of work performed by a public accounting firm. This element involves considering factors such as the client's reputation, integrity, and ethical standards before accepting or continuing an engagement. The other choices are not directly related to quality control policies and procedures.

Which of the Following Is an Element of a System