Auditors Should Be Aware That a Voucher System May Result

question 41

Multiple Choice

Auditors should be aware that a voucher system may result in which of the following at year-end:

• A)Understatement of liabilities.
• B)Overstatement of assets.
• C)Understatement of owners' equity.
• D)Overstatement of expenses.

---

Definitions:

Effective Communication

The ability to convey information to another effectively and efficiently, ensuring mutual understanding.

Maintain Privacy

The act of keeping personal or sensitive information secure from unauthorized access or disclosure.

Timing

The selection of the optimal moment to perform an action to achieve the desired outcome.

SBAR Tool

A communication method used in healthcare to facilitate prompt and appropriate communication. It stands for Situation, Background, Assessment, and Recommendation.