Common law requires that auditors perform their work with due care, which means they must exercise the level of skill, care, and diligence that a reasonably competent auditor would under similar circumstances. This is a fundamental principle in the auditing profession to ensure quality and reliability in the audit process.

Solved

Common Law

Question 25

Multiple Choice

Common law:

A) requires that the CPA guarantee their work.
B) requires that the auditor performs work with due care.
C) requires that the auditor performs work with due diligence.
D) does not recognize the concept of constructive fraud.

Correct Answer: