Which of the following statements is true
when the CPA has been engaged to do an
attestation engagement?
a. The CPA firm is engaged and paid by the
client; therefore, the firm has primary
responsibility to be an advocate for the
client.
b. The CPA firm is engaged and paid by
the client, but the primary
beneficiaries of the audit are the
statement users.
c. Should a situation arise where there is no
convincing authoritative standard
available, and there is a choice of actions
which could impact client's financial
statements either positively or
negatively, the CPA is free to endorse the
choice which is best in the client's
interest.
d. As long as CPA firms are competent, it is
not required that they remain unbiased.
when the CPA has been engaged to do an
attestation engagement?
a. The CPA firm is engaged and paid by the
client; therefore, the firm has primary
responsibility to be an advocate for the
client.
b. The CPA firm is engaged and paid by
the client, but the primary
beneficiaries of the audit are the
statement users.
c. Should a situation arise where there is no
convincing authoritative standard
available, and there is a choice of actions
which could impact client's financial
statements either positively or
negatively, the CPA is free to endorse the
choice which is best in the client's
interest.
d. As long as CPA firms are competent, it is
not required that they remain unbiased.