In the Audit Performance Phase of an Operational Audit, the Auditor

question 5

Multiple Choice

In the audit performance phase of an operational audit, the auditor relies primarily on:

• A) tests of compliance and tests of balances.
• B) confirming and vouching.
• C) tests of transactions and tests of balances.
• D) inquiring and observation.
• E) tracing and vouching.

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Definitions:

Units

Refers to individual items or components of a product, or measures of quantity in mathematics, science, and commerce.

Canadian Dollars

The currency in use in Canada, represented by the ISO code CAD.

Exchange Rates

Exchange Rates denote the value of one currency in terms of another currency. These rates fluctuate based on market conditions and are fundamental to international finance and trade.

Service Charge

A fee collected to pay for services related to the primary product or service being purchased.