QUESTION 8 As part of a quality audit, the audit firm must have policies and procedures in place for conducting an engagement quality review of each audit before issuing the audit opinion for public companies. True False QUESTION 9 Which of the following items does the auditor ask the client to send to its legal counsel requesting information about asserted claims? a. A management representation letter b. A loss reserve confirmation c. A management letter d. A letter of audit inquiry. QUESTION 10 Some auditors may be reluctant to issue a poing-concem audit opinion because it may hasten the failure of the client company. True False