The Formal Audit Report May Be Presented in Various Formats

question 58

Short Answer

The formal audit report may be presented in various formats but should,at a minimum,contain comments on a number of points.Match each of the points below with its description.
A)Current status of the project
B)Risk assessment
C)Information pertinent to other projects
D)Limitations of the audit
1)What assumptions or limitations affect the data in the audit?
2)Does the work actually completed match the planned level of completion?
3)What is the potential for project failure or monetary loss?
4)What lessons learned from the project being audited can be applied to other projects being undertaken by the organization?

• A)Current status of the project
• B)Risk assessment
• C)Information pertinent to other projects
• D)Limitations of the audit
• 1)What assumptions or limitations affect the data in the audit?
• 2)Does the work actually completed match the planned level of completion?
• 3)What is the potential for project failure or monetary loss?
• 4)What lessons learned from the project being audited can be applied to other projects being undertaken by the organization?

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Definitions:

Activity Theory

A theory that suggests aging individuals will benefit from staying active and engaged to maintain happiness and well-being.

Aging

The process of becoming older or more mature, involving biological, emotional, intellectual, social, and spiritual changes over time.

Volunteering

Offering to do something without being forced to or without getting paid for it, often to help individuals, groups, or causes for social or community benefits.

Hobby

A leisure activity that is pursued for pleasure and relaxation, not for financial gain or professional reasons.