That which constitutes reasonable care, skill, and caution in an audit depends on the:

Question

Quizplus · Accepted Answer

Reasonable care, skill, and caution in an audit can vary depending on the specific circumstances of each case. Factors such as the complexity of the company being audited, the nature of its operations and industry, and any potential risks or fraud indicators must be taken into consideration to determine what constitutes reasonable care in that particular case. While auditing standards provide a general framework for auditors to follow, the specific application of those standards must be tailored to the individual circumstances.

That Which Constitutes Reasonable Care, Skill, and Caution in an Audit