Auditors Should Monitor the Results from Previous Audit Findings and Recommendations

question 255

Multiple Choice

Auditors should monitor the results from previous audit findings and recommendations to ensure that the customer has taken corrective action or consciously accepted the risk of not implementing corrective measures. The level of appropriate follow-up on prior findings is determined by the following:

• A) The amount of time management has had to correct the problem.
• B) The amount and quality of interim feedback the auditor has received from the customer regarding the status of correcting the finding since the prior audit.
• C) The amount of risk and exposure involved if corrective actions fail to correct the problem.
• D) All of above.

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Definitions:

Merger

The combination of two or more companies into a single entity, where one survives and the others cease to exist.

Vinzo Pharmaceuticals

A hypothetical or specific company involved in the research, development, and distribution of pharmaceutical products.

Merger

The combination of two or more companies into a single entity, typically with the aim of boosting competitiveness or market share.

Join Forces

To unite or collaborate with others for a common purpose or goal.