which of the following statements is correct regarding the auditor rsquo s considera 634226
Which of the following statements is correct regarding the auditor’s consideration of the possibility of illegal acts by clients?
- The auditor has a responsibility to plan and perform the audit to obtain reasonable assurance that no illegal acts have been committed by clients.
- The auditor’s training, experience, and understanding of the client should be used to provide a basis for the determination as to whether illegal acts have occurred.
- If specific information concerning an illegal act comes to the auditor’s attention, the auditor should apply audit procedures specifically directed to ascertaining whether an illegal act has occurred.
- If an illegal act has occurred, the auditor should express a qualified opinion or an adverse opinion on the financial statements taken as a whole.