The PCAOB's Second Fieldwork Standard Requires Auditors Develop an Understanding

question 51

True/False

The PCAOB's second fieldwork standard requires auditors develop an understanding of the client's controls as an important prerequisite to developing specific audit tests.

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Definitions:

Premises

Statements or propositions upon which an argument is based or from which a conclusion is drawn.

Conclusion

The final part of something, typically a process or reasoning, where an inference or decision is made based on the information presented.

Strongest Support

The most compelling or persuasive evidence or arguments in favor of a particular claim or position.

Conclusion

The end or finish of an event, process, or text; in logic, a statement reached by reasoning.