Two Overriding Considerations Affect the Many Ways an Auditor Can

question 177

Multiple Choice

Two overriding considerations affect the many ways an auditor can accumulate evidence: 1. Sufficient appropriate evidence must be accumulated to meet the auditor's professional responsibility.
2) Cost of accumulating evidence should be minimized.
In evaluating these considerations

• A) the first is more important than the second.
• B) the second is more important than the first.
• C) they are equally important.
• D) it is impossible to prioritize them.

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Definitions:

Prior Art

All relevant technical knowledge about the field to which the invention belongs.

Technical Knowledge

Expertise or skills in specific fields, particularly those related to science, engineering, technology, or computing.

Commerce Clause

A provision in the United States Constitution that grants Congress the power to regulate trade between states, with foreign nations, and among Indian tribes.