Which safeguard best addresses the familiarity threat arising from long association with an audit client?
AIncreasing the audit fee
BRotating the engagement partnerCORRECT
CObtaining a management representation letter
DExtending the audit timetable
ICANAudit & AssuranceRegulatory and Ethical Framework2024
AI
Toaster Teacher
Why the answer is B, and why the others tempt you.
Partner rotation, together with independent engagement quality reviews, is the standard safeguard against familiarity arising from long association, particularly for public interest entities.
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