After an External Audit, the Auditee May Be Asked to Evaluate

question 57

Multiple Choice

After an external audit, the auditee may be asked to evaluate which of the following auditor skills or elements of the audit?

• A) Interviewing, interaction, accuracy of the audit report
• B) Audit scheduling, auditor training records, observing an audit
• C) Communication, listening, checklist preparation
• D) Clarity of past audit reports, number of findings, lack of bias

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Definitions:

Economies of Scale

Cost advantages companies experience when production becomes efficient, as the cost per unit of output decreases with increasing scale.

General Electric

A multinational conglomerate corporation operating in sectors like aviation, power, healthcare, and renewables, among others.

Plant Size

The scale or capacity of a factory or production facility, often measured in terms of productive capability or physical dimensions.

Diseconomies of Scale

An economic concept where increasing production results in higher per unit costs.