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Author Question: Great State Bank claimed that Wiles Accounting committed fraud in the preparation of an audit. To ... (Read 102 times)

nautica902

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on: Jun 24, 2018
Great State Bank claimed that Wiles Accounting committed fraud in the preparation of an audit. To hold the accounting firm liable, which of the following elements must be established?
 A) Knowledge or reckless disregard of the truth
 B) A fiduciary relationship
 C) Failure to exercise due care
 D) An executed engagement letter

Question 2

An auditor who determines a company is materially misstating certain items on its financial statements should issue
 A) an unqualified opinion.
 B) a qualified opinion.
 C) an adverse opinion.
 D) a disclaimer of opinion.


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fwbard

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Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

C


nautica902

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

strudel15

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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