When Sheila Copes, CPA audited a new client she asked questions about what the client does, how the client functions, the ownership structure of the client and its sources of financing.
She was getting an understanding of the client at the
A) entity level.
B) industry level.
C) economy level.
D) all of the above

Question

Quizplus · Accepted Answer

Sheila Copes was getting an understanding of the client at the entity level, which refers to the specific organization being audited. The industry level would focus on the specific industry of the organization, and the economy level would focus on the overall economic environment.

When Sheila Copes, CPA Audited a New Client She Asked