When should an independence letter be received?
A) At the audit report date.
B) Near the end of the audit.
C) Before the engagement.
D) Throughout the audit.

Question

Quizplus · Accepted Answer

An independence letter should be received before the engagement to ensure the independence of the auditor. This helps to prevent any conflicts of interest and ensures that the auditor is free to perform their work objectively and without bias. Independence is a fundamental principle of auditing, and receiving the independence letter before the engagement ensures that this principle is being upheld.

When Should an Independence Letter Be Received