Which of the Following Documents Should the Chief Audit Executive

question 246

Multiple Choice

Which of the following documents should the chief audit executive review and approve? 1. Workpaper retention policy. 2. Audit committee meeting minutes. 3. Internal audit handbook. 4. Quarterly financial statements.

• A) 1 and 2 only
• B) 1 and 3 only
• C) 2 and 4 only
• D) 1, 3, and 4 only

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Definitions:

Sample Mean

The average of all observations in a sample, calculated by summing the values and dividing by the sample size.

Critical Value

A point on the scale of the test statistic beyond which we reject the null hypothesis; it marks the boundary for deciding whether an observed test statistic is extreme.

Null Hypothesis

A statement used in statistical testing that assumes no significant difference or relationship exists between specified populations.

Standard Error

The standard deviation of the sampling distribution of a statistic, commonly used to measure the precision of the sample mean estimate.