Which of the Following Statements Describes an Engagement Planning Best

question 119

Multiple Choice

Which of the following statements describes an engagement planning best practice?

• A) It is best to determine planning activities on a case-by-case basis because they can vary widely from engagement to engagement.
• B) If the engagement subject matter is not unique, it is not necessary to outline specific testing procedures during the planning phase.
• C) The engagement plan includes the expected distribution of the audit results, which should be kept confidential until the audit report is final.
• D) Engagement planning activities include setting engagement objectives that align with audit client's business objectives.

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Definitions:

Language

A system of symbols, sounds, and rules used by people to communicate thoughts and feelings.

Cognition

The cognitive process of gaining understanding and knowledge through thinking, experiencing, and sensory perception.

Reliability

A measure of the consistency or repeatability of results obtained from a test, experiment, or assessment tool over time.

Heuristics

Mental shortcuts or rules of thumb that simplify decision making, often helpful but sometimes leading to cognitive biases.