One Way an Auditor Gauges How Much Audit Work and Testing

question 24

Multiple Choice

One way an auditor gauges how much audit work and testing needs to be performed is through evaluating materiality and seeking reasonable assurance about the nature of the information or process.What is key to determining materiality during an audit?

• A)determining if material errors exist in the information or processes undergoing audit
• B)the testing of records,account balances,and procedures on a sample basis
• C)determining what is and is not important given a set of circumstances is primarily a matter of judgment
• D)none of the above

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Definitions:

Learned Helplessness

A condition in which individuals believe they have no control over the outcomes of events, resulting from repeated exposure to uncontrollable situations.

Feeling

An emotional state or reaction that consciously emerges from experiences, perceptions, or interactions.

Control

in psychology, relates to an individual's ability to influence or direct their environment and outcomes affecting their life.

Optimists

Individuals who tend to maintain a positive outlook on life, expecting the best possible outcomes in various situations.