Which of the Following Approaches Should Be Part of an Auditor's

question 34

Multiple Choice

Which of the following approaches should be part of an auditor's planning of the audit engagement?

• A)Plan to search for fraud or errors that would have a material or immaterial effect on the financial report.
• B)Plan to search for fraud or errors that would have a material effect on the financial report.
• C)Plan to discover fraud or errors that are material.
• D)Plan to discover fraud or errors that are either material or immaterial.

---

Definitions:

Price Ceiling

A price ceiling is a government-imposed limit on the price charged for a commodity, with the intention of keeping prices at an affordable level for consumers.

Team Structure

A structure that uses permanent and temporary cross-functional teams to improve lateral relations.

Sense Identification

The process of recognizing and understanding one's feelings, surroundings, or the current situation; often used in the context of personal or organizational development.

Productive Meeting

A meeting in which participants achieve objectives efficiently in a focused and time-bound manner.