Which of the following would an auditor least likely consider with respect to fair values?

a. The role of information technology in determining fair value measurements and disclosures.

b. The effect on fair value measurement and disclosures of information available subsequent to the audit.

c. Whether the valuation methods used are appropriate in relation to the industry in which the entity operates.

d. Segregation of duties between those committing the entity to certain transactions and those responsible for undertaking the valuations related to those transactions.

答案：B

Explanation

Choice "b" is correct. The auditor would consider subsequent events and transactions occurring before the completion of the audit, not after. The auditor is not responsible for predicting the future, and would not be expected to evaluate the effect of conditions arising subsequent to the audit, that, if known at the time of the audit, might have affected fair value measurements and disclosures.

Choice "d" is incorrect. The auditor is responsible for understanding relevant controls. Segregation of duties between those committing the entity to certain transactions and those responsible for undertaking the valuations related to those transactions is a relevant control.

Choice "a" is incorrect. The auditor is responsible for understanding the entity's process for determining fair value measurements and disclosures. Considering the role of information technology in determining fair value measurements and disclosures is part of understanding this process.

Choice "c" is incorrect. The auditor should evaluate whether the valuation model is appropriate given the entity's circumstances. As part of this evaluation, the auditor should consider whether the valuation method is appropriate in relation to the business, industry, and environment in which the entity operates.