Question 1
If an auditor fails to fulfill a certain requirement in the contract, they may be guilty of:
Answer
Selected Answer: breach of contract.
Correct Answer: breach of contract.
Question 2
The assessment against a defendant of that portion of the damage caused by the defendant's negligence is called:
Answer
Selected Answer: separate and proportionate liability.
Correct Answer: separate and proportionate liability.
Question 3
In connection with the audit of financial statements, an independent auditor could be responsible for failure to detect a material fraud if:
Answer
Selected Answer: statistical sampling techniques were not used on the audit engagement.
Correct