To Be Proficient as an Auditor, a Person Must First

question 53

Multiple Choice

To be proficient as an auditor, a person must first be able to accomplish which of these tasks in a decision-making process?

• A)Identify audit evidence relevant to the verification of assertions management makes in its unaudited financial statements and notes.
• B)Formulate evidence-gathering procedures (audit plan)designed to obtain sufficient, competent evidence about assertions management makes in financial statements and notes.
• C)Recognize the financial assertions made in management's financial statements and footnotes.
• D)Evaluate the evidence produced by the performance of procedures and decide whether management's assertions conform to generally accepted accounting principles and reality.

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Definitions:

Cotton Kingdom

The term used to describe the Southern United States in the 19th century, where the economy was heavily dependent on cotton cultivation and slavery.

Slave Labor

The forced labor of individuals who are owned by others, without the freedom to refuse work and without rightful compensation.

Deep South

A term used to describe the most south-eastern states of the United States, known for their historical reliance on agriculture, particularly cotton, and where slavery and racial segregation were deeply rooted.

Irish Immigrants

Individuals from Ireland who moved to other countries, notably the United States, in significant numbers, especially during the 19th and early 20th centuries, seeking better opportunities.