Prior to Looking at the Specific Cycles,the Auditor Will First

question 20

Multiple Choice

Prior to looking at the specific cycles,the auditor will first

• A)enquire about and document corporate governance systems.
• B)perform tests of controls on significant cycles.
• C)perform analytical review of specific accounts.
• D)perform a risk assessment for the audit of the organization.

---

Definitions:

Promote Efficiency

Actions or strategies undertaken to improve the productivity and effectiveness of an operation or process, minimizing waste and maximizing output.

Budget Committee

A group responsible for overseeing the preparation, implementation, and review of budgets within an organization.

Internal Auditors

Professionals within an organization responsible for evaluating and improving the effectiveness of risk management, control, and governance processes.

Budget Director

An individual responsible for overseeing the preparation and implementation of an organization's budget, ensuring financial discipline and planning.