The Element of the Audit Planning Process Most Likely to Be

question 31

Multiple Choice

The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the:

• A)methods of statistical sampling to be used in confirming accounts receivable.
• B)pending legal matters to be included in the inquiry of the client's attorney.
• C)evidence to be gathered to provide a sufficient basis for the auditor's opinion.
• D)timing of the audit.

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Definitions:

Sample

A subset of a larger population used to represent the whole group in statistical analysis.

Microprocessor

A microprocessor is an integrated circuit designed to perform calculations and execute various logic tasks as the central processing unit (CPU) in computers and other digital devices.

Sample

A portion of the population selected to represent the entire group, used for analytical or statistical purposes.

Production Line

A manufacturing process where parts or components are added successively in a specific sequence to create a finished product efficiently.