An Audit Plan Details the Nature, Extent, and Timing of Audit

question 125

Multiple Choice

An audit plan details the nature, extent, and timing of audit procedures to be performed.The "timing" of audit procedures is best defined as _______.

• A)when the procedure will be performed
• B)how much testing will be done
• C)what type of procedure will be used
• D)the reliability and relevance of evidence obtained in the audit

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Definitions:

Statute of Frauds

Legal requirement that certain contracts be in writing and signed by the party to be charged to be enforceable.

Writing

The act of marking coherent words on a surface or the piece of text itself; in legal contexts, many agreements must be documented in writing to be enforceable.

Electronic Transactions

Deals or exchanges of goods, services, or information conducted over electronic systems like the Internet or other computer networks.

Prudent Businessperson

An individual who exercises care and diligence in making decisions or taking actions in the context of business operations.