Which of the Following Is a Substantive Procedure in the Audit

question 34

Multiple Choice

Which of the following is a substantive procedure in the audit of estimates made by management?

• A)Observing whether estimates are prepared by qualified personnel.
• B)Recalculating the mathematical estimate.
• C)Scanning for evidence of review by senior management.
• D)Ensuring estimates are recorded in the right accounts.

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Definitions:

Beneficence

The ethical principle that entails acting in ways that promote the welfare and well-being of others.

Informed Consent

A vital process in healthcare and research, ensuring that a person is fully informed about, and understands, the risks and benefits of a procedure or participation before agreeing to it.

Fidelity

The ethical principle of loyalty, faithfulness, and honoring commitments, especially within professional duties.

Loyalty

A strong feeling of support or allegiance, often emphasized in customer or patient relationships in various sectors.