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The audit partners of Faberge External Auditors, LLC have convened a meeting with the audit managers and staff associates that will be assigned to the
The audit partners of Faberge External Auditors, LLC have convened a meeting with the audit managers and staff associates that will be assigned to the audit of GloBus Enterprises, a leading national provider of gaming console and other peripheral electronic equipment. The audit partners wish to ensure that staff assigned to the engagement exercise appropriate levels of professional skepticism. Which of the following represent situations where professional skepticism should be exercised? Select all that apply.
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In meetings with the clients senior management, it has been noted by the audit partners that conflicting responses have been received regarding the preferred choice of depreciation method.
It has been reported in local media outlets that a major customer of the client may pursue litigation to address a grievance pertaining to product warranties.
The clients internal audit function appears to be efficient, proficient, and independent of senior management.
The clients senior management has adopted aggressive sales and company growth targets in an attempt to position themselves as the industry leader.
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