An Audit Program Provides an Effective Means for Which of the Following

question 78

Multiple Choice

An audit program provides an effective means for which of the following?

• A)Reviewing the completeness and persuasiveness of procedures performed.
• B)Recording the audit work performed and those responsible for performing the work.
• C)Organizing and distributing the work.
• D)All the above.

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Definitions:

Recognition Heuristic

A decision-making process where a more recognized option is chosen over the less familiar one, based on the assumption that recognition is correlated with value.

Behavioral Economics

A method of economic analysis that applies psychological insights into human behaviour to explain economic decision-making.

Self-Serving Bias

Self-serving bias is the tendency to attribute positive events to one's own character but attribute negative events to external factors, affecting judgment and decision-making.

Planning Fallacy

The optimistic cognitive bias that leads individuals or teams to underestimate the time, costs, and risks of future actions, while overestimating the benefits.