PCAOB Auditing Standard No

question 132

Short Answer

PCAOB Auditing Standard No. 5 uses ______________________________ in its description of the conduct of an integrated audit under SOX 404.

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Definitions:

Constant Allowances

Fixed time values added to the normal time required for a task, accounting for delays or non-work related activities.

Performance Rating

An evaluation of an individual's or machine's work output against a set standard.

Normal Time

The average time that should be taken to complete a task or process under normal working conditions.

Standard Time

The established time allowed for the completion of a specific job, based on measurements and assessments of work processes.