Which of the Following Is a Driver of Audit Quality

question 68

Multiple Choice

Which of the following is a driver of audit quality?

• A) Audit firm culture.
• B) Engagement team skills and attributes.
• C) Factors outside control of auditors.
• D) Investor requirements.
• E) A, B, and C only.

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Definitions:

Random Variation

The unpredictable fluctuation in data points that results from a multitude of unspecified factors.

Process Control Charts

Graphical displays used to monitor the stability and performance of a process over time by plotting various statistics.

P-Charts

Control charts used for monitoring the proportion of defective items in a process over time.

Statistical Process Control (SPC)

A method of quality control which employs statistical methods to monitor and control a process, helping to ensure that it operates at its fullest potential.