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Which statement regarding critical audit matters is true

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Reference no: EM132919205

Problem 1: Which statement regarding Critical Audit Matters is True?

a. If no CAMs are discovered, the CPA's report must state that no CAMs were discovered

b. Stating in the audit report that a CAM was discovered requires adjustment to the opinion on the financial statements

c. When not engaged to report on CAMs, CPA has the option to refer to CAMs in the audit report

d. Determination of CAMs is based on COSO guidelines

e. Independence is not required to accept an engagement to discover CAMs

Reference no: EM132919205

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