Management’s assertions in the financial statements are relevant to the audit process because: a. They provide evidence that auditors have prepared financial statements in accordance with GAAP b. They embody the audit procedures that will be performed by the audit engagement team. c. They include representations of financial statements in accordance with the applicable reporting criteria d. They relate to regulator’s expectations about audit results

Management’s assertions in the financial
statements are relevant to the audit process
because:
a. They provide evidence that auditors
have prepared financial statements in
accordance with GAAP
b. They embody the audit procedures that
will be performed by the audit
engagement team.
c. They include representations of
financial statements in accordance
with the applicable reporting
criteria
d. They relate to regulator’s expectations
about audit results
by

1 Answer

Answer :

They include representations of
financial statements in accordance
with the applicable reporting
criteria
by

Related questions

Management’s assertions in the financial statements are relevant to the audit process because: a. They provide evidence that auditors have prepared financial statements in accordance with GAAP b. They embody the audit procedures that will be performed by the audit engagement team. c. They include representations of financial statements in accordance with the applicable reporting criteria d. They relate to regulator’s expectations about audit results

Description : Management's assertions in the financial statements are relevant to the audit process because: a. They provide evidence that auditors have prepared financial statements in accordance with GAAP b ... with the applicable reporting criteria d. They relate to regulator's expectations about audit results

Last Answer : They include representations of financial statements in accordance with the applicable reporting criteria

Which of the following is not included in an audit engagement letter? a. Objectives of the engagement b. Representations that the financial statements were prepared in accordance with PFRS c. Management's responsibilities d. A clear explanation of the services to be performed on the engagement

Description : Which of the following is not included in an audit engagement letter? a. Objectives of the engagement b. Representations that the financial statements were prepared in accordance with PFRS c. Management's responsibilities d. A clear explanation of the services to be performed on the engagement

Last Answer : Representations that the financial statements were prepared in accordance with PFRS

Which of the following is not included in the engagement letter? a. Objectives of the engagement b. Management's responsibilities c. A clear explanation of the services to be performed on the engagement d. Representations that the financial statements were prepared in accordance with generally accepted accounting principles

Description : Which of the following is not included in the engagement letter? a. Objectives of the engagement b. Management's responsibilities c. A clear explanation of the services to ... d. Representations that the financial statements were prepared in accordance with generally accepted accounting principles

Last Answer : Representations that the financial statements were prepared in accordance with generally accepted accounting principles

Professional judgment:a. Is not used in making decisions about materiality and audit risk. b. Is necessary in the evaluation of management's judgments in applying the entity's applicable financial reporting framework. c. Should be exercised in planning and performing an audit of financial statements but need not be documented. d. Can be used as the justification for the decisions made by the auditor that are not supported by the facts and circumstances of the engagement

Description : Professional judgment:a. Is not used in making decisions about materiality and audit risk. b. Is necessary in the evaluation of management's judgments in applying the entity's applicable financial ... made by the auditor that are not supported by the facts and circumstances of the engagement

Last Answer : Is necessary in the evaluation of management's judgments in applying the entity's applicable financial reporting framework

Auditors perform analytical procedures in the planning stage of an audit for the purpose of: a. Determining which of the financial statement assertions are the most important for the client's financial statements. b. Determining the nature, timing, and extent of audit procedures for auditing the inventory. c. Deciding the matters to cover in an engagement. d. Identifying unusual conditions that deserve more auditing effort

Description : Auditors perform analytical procedures in the planning stage of an audit for the purpose of: a. Determining which of the financial statement assertions are the most important for the client's ... matters to cover in an engagement. d. Identifying unusual conditions that deserve more auditing effort

Last Answer : Identifying unusual conditions that deserve more auditing effort

Which of the following statements is correct concerning an auditor's responsibilities regarding financial statements? a. The auditor's report should provide an assurance as to the future viability of the entity. b. Making suggestions that are adopted about the form and content of an entity's financial statements impairs an auditor's independence. c. An auditor's responsibilities for audited financial statements are confined to the expression of the auditor's opinion. d. The fair presentation of audited financial statements in accordance with an applicable financial reporting framework is an implicit part of the auditor's responsibilities

Description : Which of the following statements is correct concerning an auditor's responsibilities regarding financial statements? a. The auditor's report should provide an assurance as to the future ... with an applicable financial reporting framework is an implicit part of the auditor's responsibilities

Last Answer : An auditor's responsibilities for audited financial statements are confined to the expression of the auditor's opinion

As used in auditing, which of the following statements best describes "assertions”? a. Assertions are the auditor's findings to be communicated in his audit report. b. Assertions are found only in the notes to the financial statements. c. Assertions are the representations of management as to the reliability of the information system. d. Assertions are the representations of management as to the fairness of presentation of the financial statements

Description : As used in auditing, which of the following statements best describes "assertions ? a. Assertions are the auditor's findings to be communicated in his audit report. b. Assertions are ... Assertions are the representations of management as to the fairness of presentation of the financial statements

Last Answer : Assertions are the representations of management as to the fairness of presentation of the financial statements

An auditor may accept an engagement to perform specified procedures on the specific subject matter of specified elements, accounts, or items of a financial statement if a. The report does not list the procedures performed. b. The auditor is also the entity's continuing auditor. c. The financial statements are prepared in accordance with a special purpose framework. d. Use of the report is restricted

Description : An auditor may accept an engagement to perform specified procedures on the specific subject matter of specified elements, accounts, or items of a financial statement if a. The report does not list ... are prepared in accordance with a special purpose framework. d. Use of the report is restricted

Last Answer : Use of the report is restricted

Which of the following statements about independent financial statement audit is correct? a. The audit of financial statements relieves management of its responsibilities for die financial statements. b. An audit is designed to provide limited assurance that the financial statements taken as a whole are free from material misstatement. c. The auditor's opinion is not an assurance as to the future viability of the entity as well as the effectiveness and efficiency withwhich management has conductedthe affairs of the entity.d. The procedures required to conduct anaudit in accordance with PSAs shouldbe determined by the client whoengaged the services of the auditor

Description : Which of the following statements about independent financial statement audit is correct? a. The audit of financial statements relieves management of its responsibilities for die financial statements. b. An ... with PSAs should be determined by the client who engaged the services of the auditor

Last Answer : The auditor's opinion is not an assurance as to the future viability of the entity as well as the effectiveness and efficiency withwhich management has conducted the affairs of the entity.

In designing written audit programs, an auditor should establish specific audit objectives that relate primarily to the a. Financial statement assertions. b. Timing of audit procedures. c. Cost-benefit of gathering evidence. d. Selected audit techniques.

Description : In designing written audit programs, an auditor should establish specific audit objectives that relate primarily to the a. Financial statement assertions. b. Timing of audit procedures. c. Cost-benefit of gathering evidence. d. Selected audit techniques.

Last Answer : Financial statement assertions

Which of the following statements concerning consulting services is incorrect? a. The performance of consulting services for audit clients does not, in and of itself, impair the auditor's independence. b. Consulting services differ fundamentally from the CPA's function of attesting to the assertions of other parties. c. Consulting services ordinarily involve external reporting. d. Most CPAs, including those who provide audit and tax services, also provide consulting services to their clients

Description : Which of the following statements concerning consulting services is incorrect? a. The performance of consulting services for audit clients does not, in and of itself, impair the auditor's ... including those who provide audit and tax services, also provide consulting services to their clients

Last Answer : Consulting services ordinarily involve external reporting

Assurance engagement include the following, except a. An engagement conducted to provide a high level of assurance that the subject matter conforms in all material respects with identified suitable criteria. b. An engagement conducted to provide a moderate level of assurance that the subject matter is plausible in the circumstances. c. An engagement in accordance with the Philippine Standard on Assurance Engagement(s). d. An engagement to perform agreedupon procedures

Description : Assurance engagement include the following, except a. An engagement conducted to provide a high level of assurance that the subject matter conforms in all material respects with identified suitable ... Philippine Standard on Assurance Engagement(s). d. An engagement to perform agreedupon procedures

Last Answer : An engagement to perform procedures.

In the case of an audit of financial statements, which of the following would not be a valid criterion in ascertaining the degree of correspondence between assertions and established criteria? a. International Accounting Standards b. Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Description : In the case of an audit of financial statements, which of the following would not be a valid criterion in ascertaining the degree of correspondence between assertions and established ... . Philippine Accounting Standards c. Philippine Standards on Auditing d. Philippine Financial Reporting Standards

Last Answer : Philippine Standards on Auditing

Internal auditing can affect the scope of the external auditor's audit of financial statements by a. Decreasing the external auditor's need to perform detailed testsb. Eliminating the need to observe thephysical inventory taking.c. Allowing the external auditor to limithis/her audit to the performance ofsubstantive test procedures.d. Limiting direct testing by the externalauditor to management assertions notdirectly tested by internal auditing.

Description : Internal auditing can affect the scope of the external auditor's audit of financial statements by a. Decreasing the external auditor's need to perform detailed tests b. Eliminating the need ... direct testing by the external auditor to management assertions not directly tested by internal auditing.

Last Answer : Decreasing the external auditor's need to perform detailed tests

The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the a. Procedures to be undertaken to discover litigation, claims, and assessments. b. Timing of inventory observation procedures to be performed. c. Evidence to be gathered to provide asufficient basis for the auditor's opinion.d. Pending legal matters to be included inthe inquiry of the client's attorney.

Description : The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the a. Procedures to be undertaken to discover ... opinion. d. Pending legal matters to be included in the inquiry of the client's attorney.

Last Answer : Timing of inventory observation procedures to be performed

The audit of historical financial statements should be conducted by the CPA professionals in accordance with a. The auditor's judgment. b. The audit program. c. Philippine Financial Reporting Standards. d. Philippine Standards on Auditing

Description : The audit of historical financial statements should be conducted by the CPA professionals in accordance with a. The auditor's judgment. b. The audit program. c. Philippine Financial Reporting Standards. d. Philippine Standards on Auditing

Last Answer : Philippine Standards on Auditing

Which of the following is not an assurance that the auditors give to the parties who rely on the financial statements? a. Auditors know how the amounts and disclosures in the financial statements were produced. b. Auditors gathered enough evidence to provide a reasonable basis for forming an opinionc. Auditors give assurance that thefinancial statements are accurate.d. If the evidence allows the auditors to doso, auditors give assurance in the form ofopinion, as to whether the financialstatements taken as a whole are fairlypresented in conformity with GAAP

Description : Which of the following is not an assurance that the auditors give to the parties who rely on the financial statements? a. Auditors know how the amounts and disclosures in the financial statements ... as to whether the financial statements taken as a whole are fairly presented in conformity with GAAP

Last Answer : Auditors give assurance that the financial statements are accurate

Which of the following is not an assurance that the auditors give to the parties who rely on the financial statements? a. Auditors give assurance that the financial statements are accurate. b. Auditors know how the amounts and disclosures in the financial statements were produced. c. Auditors gathered enough evidence to provide a reasonable basis for forming an opinion. d. If the evidence allows the auditors to doso, auditors give assurance in the form ofopinion, as to whether the financialstatements taken as a whole are fairlypresented in conformity with GAAP

Description : Which of the following is not an assurance that the auditors give to the parties who rely on the financial statements? a. Auditors give assurance that the financial statements are accurate. b. ... as to whether the financial statements taken as a whole are fairly presented in conformity with GAAP

Last Answer : Auditors give assurance that the financial statements are accurate

The purpose of an audit of financial statements is to a. Obtain an absolute level of assurance that the financial statements as a whole are free from material misstatement. b. Relieve management or those charged with governance of the responsibility for the preparation and presentation of the financial statements in accordance with the applicable financial reporting framework. c. Enhance the degree of confidence of intended users in the financial statements. d. Assure the future viability of the entity by expressing an opinion on the entity's financial statements.

Description : The purpose of an audit of financial statements is to a. Obtain an absolute level of assurance that the financial statements as a whole are free from material misstatement. b. Relieve management ... the future viability of the entity by expressing an opinion on the entity's financial statements.

Last Answer : Enhance the degree of confidence of intended users in the financial statements.

Which of the following statements does not properly describe a limitation of an audit? a. Many audit conclusions are made on the basis of examining a sample of evidence. b. The work, under taken by the auditor is permeated by judgment. c. Fatigue and human weaknesses can cause auditors to overlook pertinent evidence. d. Many financial statement assertions cannot be audited

Description : Which of the following statements does not properly describe a limitation of an audit? a. Many audit conclusions are made on the basis of examining a sample of evidence. b. The ... weaknesses can cause auditors to overlook pertinent evidence. d. Many financial statement assertions cannot be audited

Last Answer : Fatigue and human weaknesses can cause auditors to overlook pertinent evidence

Which of the following statements does not properly describe a limitation of an audit? a. Many financial statement assertions cannot be audited. b. Many audit conclusions are made on the basis of examining a sample of evidence. c. The work, under taken by the auditor is permeated by judgment. d. Fatigue and human weaknesses can cause auditors to overlook pertinent evidence

Description : Which of the following statements does not properly describe a limitation of an audit? a. Many financial statement assertions cannot be audited. b. Many audit conclusions are made on the ... permeated by judgment. d. Fatigue and human weaknesses can cause auditors to overlook pertinent evidence

Last Answer : Fatigue and human weaknesses can cause auditors to overlook pertinent evidence

Which of the following statements about independent financial statement audit is incorrect? a. The term "scope of the audit" refers to audit procedures deemed necessary ithe circumstances to achieve the objective of the audit. b. The auditor's opinion enhances the credibility of the financial statements. c. The phrase used to express the auditor's opinion is "present fairly, in all material respects". d. The risk that the auditor will fail to uncover material misstatement is eliminated when the auditor conducts the audit in accordance with PSAs.n

Description : Which of the following statements about independent financial statement audit is incorrect? a. The term "scope of the audit" refers to audit procedures deemed necessary in the circumstances ... uncover material misstatement is eliminated when the auditor conducts the audit in accordance with PSAs.

Last Answer : The risk that the auditor will fail to uncover material misstatement is eliminated when the auditor conducts the audit in accordance with PSAs.

Management’s attitude toward aggressive financial reporting and its emphasis onmeeting projected profit goals most likelywould significantly influence an entity’scontrol environment when a. External policies established by partiesoutside the entity affect its accountingpractices. b. Management is dominated by oneindividual who is also a shareholder. c. Internal auditors have direct access tothe board of directors and the entity’smanagement. d. The audit committee is active inoverseeing the entity’s financialreporting policies

Description : Management's attitude toward aggressive financial reporting and its emphasis on meeting projected profit goals most likely would significantly influence an entity's control environment when a. External ... d. The audit committee is active in overseeing the entity's financial reporting policies

Last Answer : Management is dominated by one individual who is also a shareholder

With respect to the auditor's planning of a year-end examination, which of the following statements is always true? a. An engagement should not be accepted after the fiscal year-end. b. It is an acceptable practice to carry out substantial parts of the examination at interim dates. c. An inventory count must be observed at the balance sheet date. d. The client's audit committee should not be told of the specific audit procedures that will be performed

Description : With respect to the auditor's planning of a year-end examination, which of the following statements is always true? a. An engagement should not be accepted after the fiscal year-end. b. It ... . The client's audit committee should not be told of the specific audit procedures that will be performed

Last Answer : It is an acceptable practice to carry out substantial parts of the examination at interim dates

The independent auditor lends credibility to client financial statements by a. Stating in the auditor’s management letter that the examination was made in accordance with PSAs b. Attaching an auditor’s opinion to the client’s financial statements. c. Testifying under oath about client financial statements. d. Maintaining clear-cut distinctions between management representations and auditor’s representations.

Description : The independent auditor lends credibility to client financial statements by a. Stating in the auditor's management letter that the examination was made in accordance with PSAs b. ... statements. d. Maintaining clear-cut distinctions between management representations and auditor's representations.

Last Answer : Attaching an auditor’s opinion to the client’s financial statements.

Operational audits generally have been conducted by internal and COA auditors, but may be performed by certified public accountants. A primary purpose of an operational audit is to provide: a. A measure of management performance in meeting organizational goalsb. The results of internal examinations of financial and accounting matters to a company's top-level management. c. Aid to the independent-auditor, who is conducting the examination of the financial statements. d. A means of assurance that internal accounting controls are functioning as planned.

Description : Operational audits generally have been conducted by internal and COA auditors, but may be performed by certified public accountants. A primary purpose of an operational audit is to provide: ... statements. d. A means of assurance that internal accounting controls are functioning as planned

Last Answer : A measure of management performance in meeting organizational goals

An auditor's examination performed in accordance with generally accepted auditing standards generally should a. Be expected to provide assurance that illegal acts will be detected where internal control is effective. b. Be relied upon to disclose violations of truth-in-lending act. c. Encompass a plan to search actively for illegalities which relate to operating aspects. d. Not be relied upon to provide assurance that illegal acts will be detected

Description : An auditor's examination performed in accordance with generally accepted auditing standards generally should a. Be expected to provide assurance that illegal acts will be detected where internal control is ... aspects. d. Not be relied upon to provide assurance that illegal acts will be detected

Last Answer : Not be relied upon to provide assurance that illegal acts will be detected

PSA 315 requires that the auditor should obtain an understanding of relevant industry, regulatory and other external factors including the applicable financial reporting framework. Which of the following is not among the items that relate to industry conditions? a. Energy, supply and cost b. Inflation and currency revaluation c. Market and competition d. Cyclical or seasonal activity

Description : PSA 315 requires that the auditor should obtain an understanding of relevant industry, regulatory and other external factors including the applicable financial reporting framework. Which of the ... Inflation and currency revaluation c. Market and competition d. Cyclical or seasonal activity

Last Answer : Inflation and currency revaluation

In all cases, audit reports must a. Communicate the auditor’s finding to the general public. b. Be signed by the individual who performed the audit procedures. c. Certify the accuracy of the quantitative information which was audited. d. Inform readers of the degree of correspondence between the quantifiable information and the established criteria

Description : In all cases, audit reports must a. Communicate the auditor's finding to the general public. b. Be signed by the individual who performed the audit procedures. c. Certify the ... . Inform readers of the degree of correspondence between the quantifiable information and the established criteria

Last Answer : Inform readers of the degree of correspondence between the quantifiable information and the established criteria

Generally accepted accounting principles (GAAP) are distinguished from generally accepted auditing standards (GAAS) in that: a. GAAP are the principles auditors follow when conducting an audit, while GAAS are the standards for presentation of financial statements and underlying transactions. b. GAAP are the principles for presentation of financial statements and underlying transactions, while GAAS are the standards that the auditors should follow when conducting an audit. c. When GAAP are violated, sufficiently strong GAAS may make up for most GAAP deficiencies. d. GAAP are promulgated by the SEC, while GAAS are promulgated by the PFRC

Description : Generally accepted accounting principles (GAAP) are distinguished from generally accepted auditing standards (GAAS) in that: a. GAAP are the principles auditors follow when conducting an audit, while GAAS ... deficiencies. d. GAAP are promulgated by the SEC, while GAAS are promulgated by the PFRC

Last Answer : GAAP are the principles for presentation of financial statements and underlying transactions, while GAAS are the standards that the auditors should follow when conducting an audit.

A operational audit is primarily oriented toward a. Future improvements to accomplish management’s goals. b. Past protection provided by existing internal control. c. Operational information is in accordance with generally accepted accounting principles. d. Financial statements are fairly presented.

Description : A operational audit is primarily oriented toward a. Future improvements to accomplish management’s goals. b. Past protection provided by existing internal control. c. Operational information is in accordance with generally accepted accounting principles. d. Financial statements are fairly presented.

Last Answer : Future improvements to accomplish management’s goals.

Why does a company choose to have an independent auditor report on its financial statements? a. Independent auditors will always detect management fraud. b. Independent auditors guarantee the accuracy of the financial statements. c. The company preparing the statements may have a vested interest in reporting certain results. d. An independent audit is designed to search for deficiencies in the company's internal control

Description : Why does a company choose to have an independent auditor report on its financial statements? a. Independent auditors will always detect management fraud. b. Independent auditors guarantee the accuracy ... . An independent audit is designed to search for deficiencies in the company's internal control

Last Answer : The company preparing the statements may have a vested interest in reporting certain results.

Before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding the predecessor's a. Evaluation of all matters of continuing accounting significance. b. Understanding as to the reasons for the change of auditors. c. Awareness of the consistency in the application of GAAP between periods. d. Opinion of any subsequent events occurring since the predecessor's audit report was issued

Description : Before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding the predecessor's a. Evaluation of all matters of continuing accounting ... . Opinion of any subsequent events occurring since the predecessor's audit report was issued

Last Answer : Understanding as to the reasons for the change of auditors

Which of the following statements reflects an auditor's responsibility for detecting fraud and error? a. An auditor is responsible for detecting employee errors and simple fraud, but not for discovering fraud involving employee collusion or management overrideAn auditor should design the auditto provide reasonable assurance ofdetecting errors and fraud that arematerial to the financial statements.c. An auditor should plan the audit to detecterrors and fraud that are caused bydepartures from the applicable FRF.d. An auditor is not responsible fordetecting errors and fraud unless theapplication of PSAs and PAPs would resultin such detection

Description : Which of the following statements reflects an auditor's responsibility for detecting fraud and error? a. An auditor is responsible for detecting employee errors and simple fraud, but not for ... detecting errors and fraud unless the application of PSAs and PAPs would result in such detection

Last Answer : An auditor should design the audit to provide reasonable assurance of detecting errors and fraud that are material to the financial statements.

The following procedures relate to Skills and Competence, except a. Identify criteria which will be considered in evaluating individual performance and expected proficiency. b. Provide procedures for maintaining the firm's standards of quality for the work performed. c. Establish qualifications and guidelines for evaluating potential hirees at each professional level. d. Provide, to the extent necessary, programs to fill the firm's needs for personnel with expertise in specialized and industries.

Description : The following procedures relate to Skills and Competence, except a. Identify criteria which will be considered in evaluating individual performance and expected proficiency. b. Provide procedures for ... to fill the firm's needs for personnel with expertise in specialized and industries.

Last Answer : Provide procedures for maintaining the firm's standards of quality for the work performed.

Which of the following is incorrect about responsibility for financial statements? a. Management is responsible for fair presentation of the financial statements. b. Auditor is responsible for expressing an opinion on the financial statements. c. Audit of financial statements does not reduce management's responsibility. d. Fair presentation of financial statements is an implicit part of the auditor's responsibility

Description : Which of the following is incorrect about responsibility for financial statements? a. Management is responsible for fair presentation of the financial statements. b. Auditor is responsible for ... . Fair presentation of financial statements is an implicit part of the auditor's responsibility

Last Answer : Fair presentation of financial statements is an implicit part of the auditor's responsibility

Audit programs should be designed so that a. Most of the required procedures can be performed as interim work. b. The audit evidence gathered supports the auditor’s conclusions. c. Inherent risk is assessed at a sufficiently low level. d. The auditor can make constructive suggestions to management

Description : Audit programs should be designed so that a. Most of the required procedures can be performed as interim work. b. The audit evidence gathered supports the auditor's conclusions. c. ... is assessed at a sufficiently low level. d. The auditor can make constructive suggestions to management

Last Answer : The audit evidence gathered supports the auditor’s conclusions.

The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the a. Timing of inventory observation procedures to be performedb. Evidence to be gathered to provide asufficient basis for the auditor's opinion.c. Procedures to be undertaken to discoverlitigation, claims, and assessments.d. Pending legal matters to be included inthe inquiry of the client's attorney

Description : The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the a. Timing of inventory observation ... assessments. d. Pending legal matters to be included in the inquiry of the client's attorney

Last Answer : Timing of inventory observation procedures to be performed.

The implementation of quality control procedures that are applicable to the individual audit engagement is the responsibility of the a. CPA firm. b. Engagement quality control reviewerc. Expert contracted by the firm inconnection with the audit engagement.d. Engagement team

Description : The implementation of quality control procedures that are applicable to the individual audit engagement is the responsibility of the a. CPA firm. b. Engagement quality control reviewer c. Expert contracted by the firm in connection with the audit engagement. d. Engagement team

Last Answer : Engagement team

Quality control procedures are applicable to the individual audit engagement. The implementation of such quality control procedures is responsibility of the: a. CPA firm. b. Engagement team. c. Quality control reviewer. d. Manager assigned to the engagement

Description : Quality control procedures are applicable to the individual audit engagement. The implementation of such quality control procedures is responsibility of the: a. CPA firm. b. Engagement team. c. Quality control reviewer. d. Manager assigned to the engagement

Last Answer : Engagement team