The Audit of Simcoe Transports Inc

question 49

Multiple Choice

The audit of Simcoe Transports Inc.was completed three months ago,so the PA firm proceeded to the file archive stage in accordance with Canadian Audit Standards.If the audit firm receives additional information related to the audit but the information does not affect the audit conclusions,the information should be

• A)disregarded,as the file archive was already done.
• B)added to the audit file in the section to which it pertains.
• C)separately identified and added at the front of the audit file.
• D)added to the audit file with a request that the reviewing partner review the new information.

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Definitions:

Sales And Experience

The potential relationship and dynamics between a company's sales performance and the experience provided to its customers.

Prediction Interval

An interval estimate of a variable of interest within which future observations are expected to fall, with a certain probability.

T-Table Values

T-Table Values refer to a table used in statistics that shows the critical values of the t-distribution. It's used to determine the probability associated with a t-test.

Simple Linear Regression

A statistical method that examines the linear relationship between two continuous variables, one being dependent and the other independent, by fitting a linear equation to observed data.