47. The auditor might communicate with management's finance and accounting staff to explain how the auditor conducted the audit, and allow the staff to explain the results of the audit to management.
The term remote likelihood does not include a probability of more than approximately 50 percent that a future event will occur. This criterion disposes of a remote likelihood which might be identified by an accountant as a possible, though not probable, occurrence.
The Elections Commission determined whether various candidates were in compliance or not with sponsorship and campaign finance disclosure requirements. Audit Selection Criteria: The primary selection criterion for audit assignments was whether the engagement was expected to be in compliance with generally accepted auditing standards (GAAS). The audit committee should evaluate how much time will be required for the engagement and, based on that evaluation, select the most appropriate firm. The final selection of the firm was based on the firm's competitive market pricing. 7211a4ac4a