With Respect to Key Performance Indicators, Auditors Should ________

question 67

Multiple Choice

With respect to Key Performance Indicators, auditors should ________.

• A)disregard them as they would be unrelated to the audit
• B)ask management to provide a detailed explanation of which KPIs are of the most importance to them so that related audit procedures can be planned
• C)assign the task of investigation to the internal audit function
• D)assign new KPIs to the client as a result of the audit process

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Definitions:

Independent Events

Two or more events that have no impact on the likelihood of each other's occurrence.

P(A And B)

The chance of event A occurring together with event B.

Lone Pair

A pair of valence electrons that are not involved in bonding but occupy space around an atom.

Strongly Basic

A substance or solution with a very high pH, typically greater than 11, indicating a high concentration of hydroxide ions.