How and to whom does an auditor communicate the audit results?
What will be an ideal response?
The auditor prepares a written report summarizing the findings and recommendations, with references to supporting evidence in working papers. The report is presented to management, the audit committee, the board of directors, and other appropriate parties. The auditor then follows up later to determine if recommendations were implemented.
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To protect his poultry from meteorites, the gentleman farmer made hard hats for each bird and installed a meteor detection system that opened umbrellas throughout the yard if a meteor were detected
The safety of his flock thus assured, the farmer was surprised when he read his latest issue of Risk Management Magazine and discovered that this event was: A) High in consequence and high in probability. B) Low in consequence and low in probability. C) Low in probability and high in consequence. D) High in probability and low in consequence.
Which of the following statements about comparative negligence laws is (are) true?
I. Under the pure rule, any negligence by the plaintiff automatically bars recovery for damages. II. Under the 50 percent rule, parties who are equally at fault are each allowed to recover damages. A) I only B) II only C) both I and II D) neither I nor II