It Is Important for the Public Accountant to Consider the Competence

question 18

Multiple Choice

It is important for the public accountant to consider the competence of the audit clients' employees because their competence bears directly and importantly upon the

• A)cost/benefit relationship of internal controls.
• B)achievement of the objectives through effective internal controls.
• C)comparison of recorded accountability with assets.
• D)timing of the tests to be performed.

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Definitions:

Third-Party Payments

Payments for healthcare services made by an entity other than the patient or healthcare provider, typically insurance companies or government programs.

Medical Model

When sick, an individual goes to a physician to be made well.

Wellness Program

A comprehensive program intended to improve and promote health and fitness, often offered through an employer or a health plan.

Health Initiative

A program or campaign designed to improve health outcomes in a community or population through education, policy, or service improvements.