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

Question

Quizplus · Accepted Answer

Audit failure occurs when the auditor fails to use due care and professional skepticism in the conduct of the audit, leading to incorrect or incomplete information in the audit report. Business failure and client insolvency may be a result of other factors and not necessarily an audit failure.

Which of the Following Is an Example of Audit Failure