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Which of these statements is/are correct? | If an auditor had the required knowledge and intentionally failed to fulfill a certain requirement in the contract, they may be guilty of contract fraud. |I Reasons for increased litigation against auditors include recession and tough economic times resulting in business failures. Select one: O a. Only II is correct. O b. Both (1) and (II) are correct. C. Both (1) and (11) are incorrect. d. Only I is correct.

Which of these statements is/are correct? | If an auditor had the required knowledge and intentionally failed to fulfill a certain requirement in the contract, they may be guilty of contract fraud. |I Reasons for increased litigation against auditors include recession and tough economic times resulting in business failures. Select one: O a. Only II is correct. O b. Both (1) and (II) are correct. C. Both (1) and (11) are incorrect. d. Only I is correct.

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
Chapter7: Planning The Audit: Identifying, Assessing, And Responding To The Risk Of Material Misstatement
Section: Chapter Questions
Problem 11CYBK
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Which of these statements is/are correct? I lf an auditor had the required knowledge and intentionally failed to fulfill a certain requirement in the contract, they may be guilty of contract fraud. II Reasons for increased litigation against auditors include recession and tough economic times resulting in business failures. Select one: O a. Only II is correct. b. Both (1) and (1) are correct. Both (1) and (11) are incorrect. O d. Only I is correct.
Transcribed Image Text:Which of these statements is/are correct? I lf an auditor had the required knowledge and intentionally failed to fulfill a certain requirement in the contract, they may be guilty of contract fraud. II Reasons for increased litigation against auditors include recession and tough economic times resulting in business failures. Select one: O a. Only II is correct. b. Both (1) and (1) are correct. Both (1) and (11) are incorrect. O d. Only I is correct.
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