Question
Which of the following is true about auditing standards in the audit of financial statements? A. Auditing standards should provide more clearly defined guidelines as
Which of the following is true about auditing standards in the audit of financial statements? A. Auditing standards should provide more clearly defined guidelines as an aid in determining the extent of evidence to be accumulated as many practitioners along with critics of the profession believe. O B. Auditing standards should provide more specific guidelines and requirements because this would eliminate some of the difficult audit decisions and provide a source of defense if the CPA is charged with conducting an inadequate audit. O There is probably a greater harm from defining authoritative guidelines too specifically than too broadly as agreed upon by both the profession and the users of auditing services. O Too broad general requirements could turn auditing into mechanical evidence gathering that is void of professional judgment.
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