Which of the following is least likely to be required on an audit? A)Evaluate the business rationale for significant,unusual transactions. B)Make a legal determination of whether fraud has occurred. C)Review accounting estimates for biases. D)Test appropriateness of journal entries and adjustments.

Question

Quizplus · Accepted Answer

While auditors may investigate potential fraud and bring concerns to the attention of management, the legal determination of fraud is a responsibility of the appropriate legal and regulatory authorities. A, C, and D are all common audit procedures to ensure the accuracy and completeness of financial statements.

Which of the Following Is Least Likely to Be Required