Which of the following was amended in SAS 147 with respect to the inquiry of the predecessor auditor regarding froud and noncompliance with laws and regulations? O a Matters involving noncompliance or suspected noncompliance with laws and regulations that came to the predecessor's attention during the audit, other than matters that are clearly inconsequential O & Clarifying that a "system of internal controls" is comprised of five interrelated components, which are embedded with individual controls that can be segregated between "indirect" and "direct" controls O No need to document inquiries with the predecessor once an engagement is accepted. Od. Inquiries are required before management has authorized the predecessor auditor to fully respond to inquiries
Which of the following was amended in SAS 147 with respect to the inquiry of the predecessor auditor regarding froud and noncompliance with laws and regulations? O a Matters involving noncompliance or suspected noncompliance with laws and regulations that came to the predecessor's attention during the audit, other than matters that are clearly inconsequential O & Clarifying that a "system of internal controls" is comprised of five interrelated components, which are embedded with individual controls that can be segregated between "indirect" and "direct" controls O No need to document inquiries with the predecessor once an engagement is accepted. Od. Inquiries are required before management has authorized the predecessor auditor to fully respond to inquiries
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Which of the following was amended in SAS 147 with respect to the inquiry of the predecessor auditor regarding fraud and noncompliance with laws and regulations?
O a Matters involving noncompliance or suspected noncompliance with laws and regulations that came to the predecessor's attention during the audit, other than matters that are clearly
inconsequential
Ob Clarifying that a "system of internal controls" is comprised of five interrelated components, which are embedded with individual controls that can be segregated between "indirect" and
"direct" controls.
O No need to document inquiries with the predecessor once an engagement is accepted.
Od. Inquines are required before management has authorized the predecessor auditor to fully respond to inquiries
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