AICPA每日一练之AUD【2016-2-1】

高顿网校2016-02-01 09:07Lynn.yu
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The controller of a small utility company has interviewed audit firms proposing to perform the annual audit of their employee benefit plan. According to the guidelines of the Department of Labor (DOL), the selected auditor must be:

a.Included on the list of firms approved by the DOL.

b.The firm that proposes the lowest fee for the work required.

c.Independent for purposes of examining financial information required to be filed annually with the DOL.

d.Independent of the utility company and not relying on its services.

Answer:C

Choice "C" is correct. The DOL requires auditor independence when auditing and providing an opinion on the financial information submitted annually to the DOL. Choices "b", "a", and "d" are incorrect. Each of these choices is not a requirement outlined by the DOL.

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