Auditing Is Defined as a "Systematic Process of Objectively Obtaining

question 44

Multiple Choice

Auditing is defined as a "systematic process of objectively obtaining and evaluating evidence regarding assertions..." What is meant by "systematic process"?

• A)All audits involve obtaining the same evidence.
• B)All audits involve evaluating evidence in the same manner.
• C)There should be a well-planned approach for obtaining and evaluating evidence.
• D)All assertions are equally important for all audits.

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Definitions:

Confidence Level

The probability that a parameter will fall between a pair of specified values, often used in the context of confidence intervals.

Sample Size

The number of observations or data points that are collected in a statistical study from a population.

Population Standard Deviation

The population standard deviation is a measure that quantifies the amount of variation or dispersion of a set of data values in a whole population.

Confidence Level

The percentage or degree of confidence that a parameter lies within a specified range, usually associated with confidence intervals in statistics.