Which of the Following Would NOT Be a Source That

question 71

Multiple Choice

Which of the following would NOT be a source that the performance auditor can utilise in developing specific evaluation criteria?

• A) discussion and agreement between the management of the entity to be audited, the operational auditor, and the entity or persons to whom the findings will be reported
• B) generally accepted accounting principles
• C) benchmarking, such as the data of comparable entities
• D) historical performance, such as results from prior periods

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Definitions:

Good Faith

The sincere intention to be fair, open, and honest, regardless of the outcome of the interaction.

Authenticity

The quality of being genuine or not counterfeit or copied, often verified through documentation or expert examination in the context of art, documents, or items of historical significance.

Negotiable

Relates to legal instruments, such as checks or bills of lading, that can be transferred from one party to another, changing ownership by endorsement.

Particular Fund

A specific investment fund targeted toward certain assets or investment strategies.