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Audit quality has been in the hot seat in recent times as the registered company auditors had not obtained reasonable assurance that the financial report was free of material misstatement. Which of the following body is able to impose penalties on auditors who have failed to carry out their duties properly?  Select one: a. Financial Reporting Council. b. Australian Accounting standard board.  c. Auditing and Assurance Standards Board. d. Companies Auditors Disciplinary Board (CADB)

Audit quality has been in the hot seat in recent times as the registered company auditors had not obtained reasonable assurance that the financial report was free of material misstatement. Which of the following body is able to impose penalties on auditors who have failed to carry out their duties properly?  Select one: a. Financial Reporting Council. b. Australian Accounting standard board.  c. Auditing and Assurance Standards Board. d. Companies Auditors Disciplinary Board (CADB)

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter2: The Auditor’s Responsibilities Regarding Fraud And Mechanisms To Address Fraud: Regulation And Corporate Governance
Section: Chapter Questions
Problem 16CYBK
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Audit quality has been in the hot seat in recent times as the registered company auditors had not obtained reasonable assurance that the financial report was free of material misstatement. Which of the following body is able to impose penalties on auditors who have failed to carry out their duties properly? 

Select one:
a. Financial Reporting Council.
b. Australian Accounting standard board. 
c.
Auditing and Assurance Standards Board.
d. Companies Auditors Disciplinary Board (CADB)
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