Having identified related party transactions,the auditor should _______.
A)confirm the terms and amounts of the transactions with the related parties
B)inform the audit committee in writing
C)consult with a fraud specialist to consider extended procedures
D)consider including an emphasis of matter paragraph in the audit opinion

Question

Quizplus · Accepted Answer

The auditor should confirm the terms and amounts of the transactions with the related parties to ensure that they are fair and reasonable.

Having Identified Related Party Transactions,the Auditor Should _______