Question: Auditing standards require the auditor to communicate all management frauds and illegal acts to the audit committee Question 34 - Auditing standards require the auditor

Auditing standards require the auditor to communicate all management frauds and illegal acts to the audit committee

Question 34 - Auditing standards require the auditor to communicate all management frauds and illegal acts to the audit committee

only if the act is material.

regardless of materiality.

only if the act is immaterial.

only if the act is highly material.

The majority of financial instruments are valued at the lower of cost or market.

Question 35 - The majority of financial instruments are valued at the lower of cost or market.True False

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