The initial development of auditing standards was in response to
A)a scandal involving embezzlement that was not detected during an audit engagement.
B)auditors' concerns that all components of the financial statements were not being verified.
C)independent inquiries of the public accounting profession made by the SEC.
D)requests by companies for greater assurance with respect to the auditors' ability to detect financial statement misstatements.

Question

Quizplus · Accepted Answer

The initial development of auditing standards was largely in response to scandals involving embezzlement and fraud that were not detected during audits, highlighting the need for more rigorous and standardized auditing practices.

The Initial Development of Auditing Standards Was in Response to