Gathering and Objectively Evaluating Audit Evidence Requires the Auditor to Consider

question 58

Multiple Choice

Gathering and objectively evaluating audit evidence requires the auditor to consider:

• A) Whether an unmodified opinion should be issued
• B) Whether a modified opinion should be issued
• C) Whether the evidence is adequate to complete the audit
• D) Whether the evidence is competent and sufficient enough to render an audit opinion

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Definitions:

Cost Reduction

The process of cutting expenses to improve profitability without compromising the quality of products or services.

Effectiveness

The ability of an entity or process to achieve its goals or intended results with a minimal amount of waste, expense, or unnecessary effort.

Customer Satisfaction

The measure of how products or services provided by a company meet or exceed the expectations of its customers.

RFID

Short for Radio-Frequency Identification, a technology used for tagging and identification of items using radio waves, commonly used in tracking inventory and assets.