As Part of the Initiation and Planning Audit Phase, It

question 16

Multiple Choice

As part of the initiation and planning audit phase, it is customary for a(n) ____ to be developed, which serves as a service agreement between the auditing team and the requesting entity.

• A) contingency plan
• B) incident report
• C) engagement letter
• D) change request

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Definitions:

Performance

The execution, fulfillment, or accomplishment of terms as specified in a contract or agreement.

Material Breach

A significant violation of a contract that allows the non-breaching party to terminate the contract and seek damages.

Obligations

Legal or moral duties that an individual or entity is bound to perform or uphold.

Substantially Perform

Fulfilling enough of a contractual obligation or duty that any remaining uncompleted parts are considered minor or insignificant.