A Well-Prepared Flowchart Should Make It Easier for the Auditor

question 11

Multiple Choice

A well-prepared flowchart should make it easier for the auditor to:

• A)prepare audit procedure manuals.
• B)prepare detailed job descriptions.
• C)perform walkthroughs.
• D)assess the degree of accuracy of financial data.

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Definitions:

Obligation

An obligation, either ethical or legal, to carry out or avoid a particular action.

Order Of

Pertains to the sequence or arrangement of things following a particular pattern or rule.

HDC Status

Status as a Holder in Due Course, which refers to a holder of a negotiable instrument who took it for value, in good faith, and without notice of any defect or claim.

Security

A measure or mechanism put in place to protect against unauthorized access, alteration, or destruction of data or physical property.