When Identifying Audit Objectives and Existing Controls

question 59

Multiple Choice

When identifying audit objectives and existing controls,

• A) audit objectives are identified for classes of transactions, account balances, and presentation and disclosure.
• B) the auditor identifies controls to satisfy each objective.
• C) it is helpful for the auditor to use the five control activities as reminders of controls.
• D) all of the above.

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Definitions:

Annual Performance Appraisal

A yearly review and evaluation of an employee's job performance and overall contribution to a company.

Skills Mismatch

A discrepancy between the skills offered by workers and the skills demanded by employers, leading to inefficiencies in the labor market.

Mental Health Program

A structured set of services designed to prevent and treat mental illness and promote mental health among individuals or communities.

Training Initiative

A strategic approach initiated by organizations to develop skills and knowledge among employees through structured programs.