In Which of the Following Cases Is It Appropriate for an Audit

question 174

Multiple Choice

In which of the following cases is it appropriate for an audit report to not contain management's response either within the report or as an attachment?

• A) Management's response to an audit report is generally not a requirement.
• B) Internal controls were found to be properly designed and operating effectively although operations are deemed inefficient.
• C) There was insufficient time to obtain management's response during the draft reporting process.
• D) An internal audit report contains no observations.

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Definitions:

Typological Approach

A method of categorization based on discrete types or categories, often used in personality psychology to organize personality traits.

Factor Analyses

A statistical technique designed to discover the latent factors responsible for the observed correlation patterns among a set of variables.

Correlation Matrices

A table showing correlation coefficients between sets of variables, revealing how changes in one variable are associated with changes in another.

Superfactors

Refers to overarching dimensions of personality identified in the study of psychology, such as those found in the Five-Factor Model.