List the Three Reasons Why an Experienced Member of the Audit

question 29

Essay

List the three reasons why an experienced member of the audit firm must thoroughly review audit documentation at the completion of the audit.

---

Definitions:

Organizational Learning

The process through which an organization improves itself through better knowledge management, innovation, and adaptation.

Lifelong Learning

The ongoing, voluntary, and self-motivated pursuit of knowledge for personal or professional reasons throughout a person's life.

Teamwork

The assignment of work to groups of employees with various skills who interact to assemble a product or provide a service.

Empowerment

The process of giving employees power, resources, and opportunities to make decisions, take action, and contribute to the company's success.