Select which option is correct. Select one or more: A. The level of professional skepticism can be reduced where the auditor has past experience with the entity indicating the honesty and integrity of management. B. Professional skepticism implies an expectation of fraud or error, so is a biased viewpoint. C. The level of professional skepticism needs to be maintained throughout the whole engagement. D. Professional skepticism is not important in considering management's explanations for unusual trends
Select which option is correct. Select one or more: A. The level of professional skepticism can be reduced where the auditor has past experience with the entity indicating the honesty and integrity of management. B. Professional skepticism implies an expectation of fraud or error, so is a biased viewpoint. C. The level of professional skepticism needs to be maintained throughout the whole engagement. D. Professional skepticism is not important in considering management's explanations for unusual trends
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Which of the following statements are correct?
Select which option is correct.
Select one or more:
A.
The level of professional skepticism can be reduced where the auditor has past experience with the entity indicating the honesty and integrity of management.
B.
Professional skepticism implies an expectation of fraud or error, so is a biased viewpoint.
C.
The level of professional skepticism needs to be maintained throughout the whole engagement.
D.
Professional skepticism is not important in considering management's explanations for unusual trends
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