University of Miami ACC 522 Quiz 3 ZZZZ Best 1)A key issue in the ZZZZ Best case is: Professional Skepticism Independence     When there is a change in auditors, GAAS require the successor (new) auditor to contact the predecessor (old) auditor prior to accepting the engagement

University of Miami

ACC 522

Quiz 3 ZZZZ Best

1)A key issue in the ZZZZ Best case is:

1. 1. Professional Skepticism
   2. Independence

2. When there is a change in auditors, GAAS require the successor (new) auditor to contact the predecessor (old) auditor prior to accepting the engagement. In the ZZZZ Best case, Price Waterhouse contacted Ernst & Whinney.
   1. True
   2. False
   3. Uncertain

3. When there is a change in auditors, GAAS require the successor (new) auditor to contact the predecessor (old) auditor prior to accepting the engagement. In the ZZZZ Best case, Ernst & Whinney contacted George Greenspan.
   1. True
   2. False
   3. Uncertain

4. In obtaining audit evidence
   1. Ernst & Whinney visited the insurance restoration sites
   2. George Greenspan visited the insurance restoration sites
   3. Both auditors visited the insurance restoration sites
   4. Neither auditor visited the insurance restoration sites

5. A California judge ruled that Ernst & Whinney was not liable to third party banks. Why?