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cjohns21 cjohns21
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A year ago
Which of the following statements is true when the CPA has been engaged to perform an audit of financial statements?

▸ The CPA firm is engaged and paid by the client; therefore, the firm has primary responsibility to be an advocate for the client.

▸ The CPA firm is engaged and paid by the client, but the primary beneficiaries of the audit are those who rely on the financial statements.

▸ Should a situation arise where there is no convincing authoritative standard available, and there is a choice of actions which could impact a client's financial statements, the CPA is free to endorse the choice which is in the investors' interests.

▸ The CPA firm has primary responsibility to the FASB.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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krissyc39krissyc39
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A year ago
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cjohns21 Author
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A year ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
zsc999
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Yesterday
Just got PERFECT on my quiz
mambah4
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2 hours ago
You make an excellent tutor!
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