Which of the following is used by auditors as a source of guidance on client acceptance and continuance decisions?
A) COSO Enterprise Risk Management and Internal Control frameworks.
B) Auditing standards on risk, fraud, and ICFR.
C) The audit firm's quality control standards.
D) All of the above.

Question

Quizplus · Accepted Answer

All of the options - COSO frameworks, auditing standards, and the audit firm's quality control standards - are used by auditors as sources of guidance for client acceptance and continuance decisions. These frameworks and standards provide guidelines for assessing risks associated with potential clients and evaluating the effectiveness of a client's internal controls. The audit firm's quality control standards also help ensure that the firm is able to provide high-quality and objective audit services.

Which of the Following Is Used by Auditors as a Source