Which of the following would be part of an audit firm's internal control environment in respect of audit and assurance services?
A) Appointing an Ethics Partner who is also the senior engagement partner for several key clients' audits.
B) Establishing policies and procedures defining independence and requiring partners and staff to disclose financial interests in clients.
C) Establishment of a policy for audit partners to develop close social relationships with senior members of client management in order to obtain consultancy and advisory work.
D) Seconding staff to work for clients in specialist or other roles in order to facilitate closer ties with the client
E) All of the above

Question

Quizplus · Accepted Answer

Establishing policies and procedures defining independence and requiring partners and staff to disclose financial interests in clients is a key component of an audit firm's internal control environment to ensure objectivity and integrity in audit and assurance services.

Which of the Following Would Be Part of an Audit