Two Overriding Considerations Affect the Many Ways an Auditor Can

question 177

Multiple Choice

Two overriding considerations affect the many ways an auditor can accumulate evidence: 1. Sufficient appropriate evidence must be accumulated to meet the auditor's professional responsibility.
2) Cost of accumulating evidence should be minimized.
In evaluating these considerations

• A) the first is more important than the second.
• B) the second is more important than the first.
• C) they are equally important.
• D) it is impossible to prioritize them.

---

Definitions:

Crisis Experience

An emotionally significant event or radical change of status in a person's life, which can lead to a period of psychological upheaval.

Outcome of Crisis

The resolution or final consequences resulting from a period of significant challenge, change, or instability.

Initiative

The ability to assess and initiate things independently, often taking charge in situations or starting something new without being prompted.

Locus of Control

A psychological concept that refers to individuals' beliefs about the extent to which the outcomes of their actions are under their own control (internal locus) or beyond their control (external locus).