[amp_mcq option1=”Negligence” option2=”Misfeasance” option3=”Criminal act” option4=”None of the above” correct=”option1″]<\/p>\n
The correct answer is: A. Negligence.<\/p>\n
Negligence is a failure to exercise the care that a reasonably prudent person would exercise in like circumstances. In the context of auditing, negligence would be a failure to exercise the care that a reasonably prudent auditor would exercise in the performance of their duties. If an auditor does something wrongfully in the performance of their duties, resulting in a financial loss to the company, they may be held liable for negligence.<\/p>\n
Misfeasance is the improper performance of an act that is otherwise lawful. In the context of auditing, misfeasance would be the improper performance of an audit, even if the audit was conducted in accordance with generally accepted auditing standards. If an auditor commits misfeasance, they may be held liable for the damages that result.<\/p>\n
Criminal act is an act that is prohibited by law. In the context of auditing, a criminal act would be an act that is committed by an auditor in the course of their duties, and that is prohibited by law. If an auditor commits a criminal act, they may be subject to criminal prosecution.<\/p>\n
None of the above is not the correct answer.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”Negligence” option2=”Misfeasance” option3=”Criminal act” option4=”None of the above” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[698],"tags":[],"class_list":["post-32674","post","type-post","status-publish","format-standard","hentry","category-auditing","no-featured-image-padding"],"yoast_head":"\n