If the Auditor Is Performing Substantive Tests at an Interim

question 94

Multiple Choice

If the auditor is performing substantive tests at an interim date, _______.

• A)the auditor need not perform any more tests through the financial statement date
• B)the auditor must perform steps to update their conclusion to the date of the financial statements
• C)the internal audit function should be advised to complete any further testing deemed necessary
• D)the client should not be billed for this work in case it needs to be repeated at the financial statement date

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Definitions:

Project Manager

A professional responsible for planning, executing, monitoring, controlling, and closing projects, ensuring they are completed on time, within budget, and to scope.

Project Infrastructure

The foundational systems and structures needed to support the execution and completion of a project.

Project Charter

A document that formally authorizes a project, outlining its objectives, scope, and the roles of participants.

Alignment Process

The method of adjusting and coordinating a company's strategy, operations, and resources with its objectives, culture, and external environment.