In Converting from a Performance Format Audit Program to a Design

question 77

True/False

In converting from a performance format audit program to a design format audit program, procedures are combined.

Understand the impact of transaction costs on earning excess returns from inside trades.

Grasp the significance of public availability of insider trading information and regulatory disclosure requirements.

Recognize the limitations of earning excess returns through public inside trades.

Analyze how evidence indicates the efficiency level of U.S. stock markets.