The disclosure of fraud to parties other than the entity's senior management and its audit committee ordinarily would be precluded by the auditor's ethical or legal obligations of confidentiality. However, the auditor has a duty to disclose the information to parties outside the entity in all of the following circumstances except:
A) A court subpoena in conjunction with a fraud investigation.
B) A successor auditor makes inquiries in determining whether to accept the engagement.
C) A Wall Street analyst inquiry regarding future profit projections.
D) To comply with legal or regulatory requirements.
Answer: C) A Wall Street analyst inquiry regarding future profit projections.
Business
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A licensee becomes a convicted felon serving a prison term.the commission:
A. Would probably suspended license for the length of the term. B. Could revoke the license C. Will revoke the license D. Will suspended license
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Is the one universal auditing approach used in information system audits
Indicate whether the statement is true or false.
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