Which of the following is correct concerning the PCAOB's concept of a significant account?
A) It is the same as a relevant assertion.
B) The auditor need only consider significant accounts when controls do not operate effectively.
C) In deciding whether an account is a significant account one does not consider the effect of internal control.
D) It is an account for which qualitative materiality considerations are particularly important.
Correct Answer:
Verified
Q68: In the United States,the hiring of a
Q69: Which situation would most likely require special
Q70: PCAOB standards suggest which of the following
Q71: When an auditor is planning an audit,the
Q72: Which of the following is least likely
Q74: A successor auditor should always make inquiries
Q75: Hawkins requested permission to communicate with the
Q76: Which of the following nonfinancial information would
Q77: An abnormal fluctuation in gross profit suggests
Q78: An auditor who selects a sample from
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents