It is very hard for auditors to remain independent of their clients, given that they are paid by their clients. Below are a number of possible mechanisms:
I.ethical rules.
II.auditing and other professional standards.
III.audit committees.Which of these mechanisms can help the auditor maintain their independence?
A) I and II only.
B) I and III only.
C) II and III only.
D) I, II and III.

Question

Quizplus · Accepted Answer

All three mechanisms can help auditors maintain their independence. Ethical rules provide guidelines on acceptable behavior and can help auditors recognize and avoid situations where independence may be compromised. Auditing and other professional standards provide requirements and expectations for the audit process, including standards for independence. Audit committees, composed of independent directors or other relevant individuals, can provide oversight and monitoring of the audit process, helping to ensure that auditors are independent and objective in their work. By combining these three mechanisms, auditors can increase their ability to remain independent and provide reliable and objective audit opinions.

It Is Very Hard for Auditors to Remain Independent of Their