Question

Which of the following is true of the deadlines of a forensic accounting engagement? Option 1: Deadlines are typically flexible and can be extended upon request. Option 2: Deadlines are set by the forensic accountant and are not negotiable. Option 3: Deadlines are determined by the court and cannot be changed. Option 4: Deadlines are agreed upon between the client and the forensic accountant.

Answer 1

Option 4: Deadlines are agreed upon between the client and the forensic accountant.

In a forensic accounting engagement, deadlines for various tasks and reports are typically negotiated and agreed upon between the client (or their legal representative) and the forensic accountant. These deadlines can vary depending on the specific requirements of the engagement, and they are often set to ensure that the investigation or analysis is conducted efficiently and effectively. While there may be some external factors, such as court-imposed deadlines in certain cases, the primary deadlines are typically determined through mutual agreement between the client and the forensic accountant to meet the client's needs and objectives.