Question
Answer whether you agree or disagree with each of the independent statements below and explain your position by giving a convincing reason or example: a)
Answer whether you agree or disagree with each of the independent statements below and explain your position by giving a convincing reason or example:
a) "Let your conscience be your guide" is an ethical principle which fits all situations.
b) In the course of performing an audit, an auditor begins dating the CFO of the auditee. This is an example of self-interest threat.
c) An external auditor is conducting an audit of the financial statements of ToTo Corporation. The external auditor is expected to opine on the accuracy of ToTo's financial statements.
d) A standard unmodified audit report should be dated no later than the date when the auditor obtained sufficient appropriate audit evidence supporting the auditors opinion.
e) Because of the risk of material misstatement, an audit of financial statements in accordance with generally accepted auditing standards should be planned and performed with an attitude of objective judgement.
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