Question

Quality control for a CPA firm A. is a guarantee that auditing standards are followed. B....

Quality control for a CPA firm

A.

is a guarantee that auditing standards are followed.

B.

is tailored to each specific audit engagement.

C.

includes the organizational structure of the firm and the procedures it establishes.

D.

is required only for firms auditing SEC companies.

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Answer #1

Quality control for a CPA firm

includes the organizational structure of the firm and the procedures it establishes

The correct answer is Option C

-Quality control is NOT A GUARANTEE that auditing standards are followed
-Quality control is NOT TAILORED to each specific audit engagement
-Quality control is required for ALL FIRMS that are into audit.

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