The predecessor auditor is required to respond to the request of the successor auditor for information, but the response can be limited to stating that no information will be provided when
A) the predecessor auditor has poor relations with the successor auditor.
B) the client is dissatisfied with the predecessor's work.
C) there are actual or potential legal problems between the client and the predecessor.
D) the predecessor believes that the client lacks integrity.
C
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The margin deposit associated with the purchase of a futures contract
A) is a partial payment on the contract with the amount of the payment equal to 10% or more of the contract value. B) represents the purchasers equity in the contract with the balance of the contract financed with borrowed funds at the margin rate of interest. C) is related to the value of the item underlying the contract. D) is used to cover any loss in market value of the contract resulting from adverse price fluctuations.
Discuss two measures that can address the threats of inefficiencies and quality controls problems
What will be an ideal response?