Self regulation as applied to the auditing profession means:
A)The profession advises the government on the laws which should be applied to the profession.
B)The profession is solely responsible for disciplining any member found to be engaged in wrong doing.
C)The profession establishes the rules that govern audit practice and monitors compliance with these rules.
D)The profession exists to protect the best interests of its members and not the best interests of the public.

Question

Quizplus · Accepted Answer

Self-regulation in the auditing profession means that the profession itself sets the standards and rules for audit practice and ensures that its members comply with these standards.

Self Regulation as Applied to the Auditing Profession Means