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.

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Definitions:

Timed Contact

A control or switch mechanism that is activated or deactivated for a specific and predetermined period.

Time Delay

A deliberate pause introduced in the operation of an electronic circuit or a program, used to ensure proper sequencing or timing of operations.