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 sourcof 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 includes information about the client's operations, ownership, and financing. The industry level and economy level are broader categories that refer to external factors that may impact the client's business.

When Sheila Copes, CPA Audited a New Client She Asked