Which of the Following Are Elements of an Audit Firm's

question 7

Multiple Choice

Which of the following are elements of an audit firm's quality control that should be considered in establishing its quality control policies and procedures? Personnel management
Monitoring
Engagement performance

• A)Yes Yes
• No
• B)Yes Yes
• Yes
• C)Yes No
• Yes
• D)No Yes
• Yes

---

Definitions:

Nontariff Barriers

All barriers other than protective tariffs that nations erect to impede international trade, including import quotas, licensing requirements, unreasonable product-quality standards, unnecessary bureaucratic detail in customs procedures, and so on.

Import Restrictions

Government-imposed controls or limitations on the quantity or value of goods that can be imported into a country, often to protect domestic industries.

Import Demand

The quantity of goods or services that domestic consumers or firms are willing to purchase from abroad at various prices.

Export Supply

The quantity of goods or services available from a country for sale to other countries, directly related to national production capacities and international demand.