When a firm decides to withdraw from an engagement, it should document all of the following except:
A)significant issues influencing the decision to withdraw from the engagement.
B)the basis for any conclusions related to this decision to withdraw from the engagement.
C)significant consultations related to the decision to withdraw from the engagement.
D)significant effects the decision to withdraw from the engagement could have on the firm.

Question

Quizplus · Accepted Answer

The correct answer is D because when a firm decides to withdraw from an engagement, it is standard to document significant issues, basis for conclusions, and consultations related to the decision. However, documenting the significant effects the decision could have on the firm itself is not a standard requirement for documentation when withdrawing from an engagement.

When a Firm Decides to Withdraw from an Engagement, It