Question

Auditors are required to communicate with the audit committee for all but which of the following: Group of answer choices Critical accounting practices and policies Significant unusual transactions Significant accounting policies and practices The procedures followed by the auditor in evaluating evidence

Answer 1

Auditors would comunicate with the audit committee for critical accounting practices including the significant accounting policies and practices for evaluating certain evidences related to the transaction.

   

Some of the other communications made to audit committee should be an overall audit strategy with time of the audit and significant risks involved for assessing risks and procedures regarding the transaction.

Auditors are required to solve the financial accounting problems and are not accountable for unusual insignificant transactions and procedures and policies.

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