Which of the following is least likely to be a critical audit matter in a public company audit report? A)A significant risk identified by the auditor. B)A related party transaction. C)An audit team member lacking experience in the client's industry. D)Matters relating to the company's accounting policies.

Question

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An audit team member lacking experience in the client's industry is a matter that may affect the auditor's report, but it is not likely to be considered a critical audit matter. Critical audit matters are those that are related to significant accounts or disclosures that are material to the financial statements and that require significant auditor judgment or effort to address. Options A, B, and D are more likely to be critical audit matters because they may affect the accuracy or reliability of the financial statements.

Which of the Following Is Least likely to Be a Critical