Which of the Following Would Most Likely Be Used as Performance

question 14

Multiple Choice

Which of the following would most likely be used as performance criteria for an internal audit?

• A)Existing relevant policy statements, manuals, laws, or regulations, or defined by the auditor for each operational audit.
• B)Australian Accounting Standards.
• C)The same criteria used to report on the internal control structure over financial reporting.
• D)Australian Auditing Standards.

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Definitions:

Decision Making

The process of choosing among alternatives to achieve a goal or solve a problem.

Herfindahl-Hirschman Index

A measure used to determine the level of competition within a market, calculated based on the sum of the squares of market shares of all firms within the market.

Market

A place or system in which commercial transactions occur between buyers and sellers for goods, services, or financial assets.

Herfindahl-Hirschman Index

A measure of market concentration that is calculated by squaring the market share of each firm competing in the market and then summing the resulting numbers.