Throughout All Phases of the Audit, Auditors Should Keep Questions

question 152

Multiple Choice

Throughout all phases of the audit, auditors should keep questions in mind when gathering audit evidence.Which is of the following is an example?

• A)Do we need to perform more audit procedures?
• B)If management offers to take us to eat lunch during the audit, should we assume this is breakdown in controls?
• C)Should we assume that client management is dishonest until proven otherwise?
• D)Should we assume that any information from management and those charged with governance is correct?

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Definitions:

Productivity

The efficiency at which goods and services are produced, often measured as output per unit of input.

Quality of Work

The degree to which work performed meets or exceeds established standards in terms of accuracy, thoroughness, and performance efficiency.

Payroll Office

The department within an organization that is responsible for processing employee paychecks, withholding taxes, and maintaining financial records related to employment.

Human Resources

The department within an organization responsible for managing employee-related processes, including recruitment, training, and payroll.