Which of the following is an auditor least likely to inquire about when performing a review of a nonpublic company? A)Significant transactions near the end of the period. B)Communications with regulatory agencies. C)That financial statements are prepared in conformity with a special basis of auditing. D)Questions that have arisen in applying review procedures.

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Quizplus · Accepted Answer

Auditors typically inquire about transactions, regulatory communications, and issues arising from review procedures. They are less concerned with whether financial statements are prepared in conformity with a "special basis of auditing" since their focus is on whether the statements conform to the applicable financial reporting framework (e.g., GAAP, IFRS). The term "special basis of auditing" is not standard; auditors are concerned with the basis of accounting rather than auditing in this context.

Which of the Following Is an Auditor Least likely to Inquire