13. The concept or stewardship means that a ompany's director a) Are responsible for ensuring that the company complies with the law b) Are tenponsible for endeng that the company pays it tax by the dut dute Safeguard the company's mets und manage them on behalf of the shareholders d) Reports suspected fraud and money fundering to the nuthorities 14. Engagement letters are important because they form a contract between the modit firm and the client True b) False 15. Which of the following is not a right of a statutory auditor? a) To attend board meetings by To receive information and explanations from officers of the company c) To receive notice of and general meetings d) To have access to all company accounting books and records 16. Which of the following is the correct definition of an audit? a) The process by which the auditor can state that the financial statement shows a true and fair view by The examination and certification of the opinion on the financial statements of an entity by a duly appointed auditor in pursuit of that appointment c) The independent examination of and expression of opinion on the financial statements of an entity by a duly appointed auditor in pursuit of that appointment d) A process that produces a report stating that nothing has been found wrong in the financial statements 17. Who should make up a typical audit committee of an entity? a) The audit committee should be made up of any members of the entity b) The audit committee should be made up of non-executive directors and include someone with relevant financial experience. c) The audit committee should be made up of executive directors and include someone with relevant financial experience. d) Shareholders only