During This Phase of the Audit, the Auditor Must Gain

question 50

Multiple Choice

During this phase of the audit, the auditor must gain a thorough understanding of the client's business and financial reporting systems.When completing this phase, the auditors review and assess the risks and controls related to the business.

• A)Tests of controls
• B)Substantive tests
• C)Audit completion / reporting
• D)Audit planning

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Definitions:

Dial-Up

A form of Internet access that uses telephone lines to establish a temporary Internet connection via a modem, characterized by relatively slow data transmission speeds.

Fiber-Optic

A technology that uses thin strands of glass or plastic fibers to transmit data as pulses of light, known for high-speed data transfer and long-distance communication capabilities.

Cable

A thick wire covered by an insulating material, used for transmitting electricity or telecommunication signals.

Piggybacking

The process of connecting to a wireless network without the permission of the owner of the network.