(Consider the usefulness of audited information, LO 1, 2, 3) For each of the following situations explain whether and why having an independent review of the information provided—that is, an audit—would be useful. Suggest the type of person who might be appropriate for conducting the audit.

a. An individual files an income tax return with the Canada Customs and Revenue Agency in which she reports the amount of money her business earned during the previous year.

b. An electronics store states that it has “the lowest prices, guaranteed!”

c. A public corporation predicts that it will double its profit next year.

d. A job applicant submits a résumé to a prospective employer outlining his employment history and educational background.