Accounting · Professional Ethics
Complete the statements regarding audit team composition: 'If team members lack recent technical knowledge of the client's specific industry, the fundamental principle of 1 is at risk. An appropriate safeguard to mitigate this risk would be to 2.'
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 - Professional competence, 2 - resign from the engagement
- 21 - Professional competence, 2 - provide industry training for team members✓
- 31 - Confidentiality, 2 - provide industry training for team members
- 41 - Professional competence, 2 - appoint a completely new audit team
Correct answer
1 - Professional competence, 2 - provide industry training for team members
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