The Type of Audit Evidence Known as Inquiry Requires the Auditor

question 116

True/False

The type of audit evidence known as inquiry requires the auditor to obtain oral or written information from the client in response to questions.

---

Definitions:

FTSE

An acronym for the Financial Times Stock Exchange, which refers to several major stock market indices, such as the FTSE 100, tracking the performance of the largest public companies by market capitalization in the UK.

Nikkei

A stock market index for the Tokyo Stock Exchange, often used to gauge the performance of the Japanese economy.

Futures Contract

A legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future.

Futures Contract

A standardized legal agreement to buy or sell something at a predetermined price at a specified time in the future, used primarily in trading commodities or financial instruments.