The Preliminary Audit Strategy

question 116

Multiple Choice

The preliminary audit strategy

• A) is set before the auditor understands the client's reasons for the audit.
• B) guides the development of the audit plan.
• C) is determined after the engagement staffing is set.
• D) is the detailed steps to be followed for the substantive audit tests.

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Definitions:

Internet

A global network of interconnected computers that communicate through standardized protocols to exchange information and provide various services.

PAN

Stands for Personal Area Network, which is a network organized around an individual person within a single building or across multiple buildings to facilitate data transmission among devices such as computers, phones, and personal digital assistants.

MOOCs

Massive Open Online Courses, online courses aimed at unlimited participation and open access via the web, often free of charge.

Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.