What Is the Primary Resource Used on an Audit Engagement

question 55

Multiple Choice

What is the primary resource used on an audit engagement?

• A) the client's IT systems
• B) the auditor's IT systems
• C) human resources of the audit firm
• D) the client's internal auditors

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Definitions:

Factor Rating

A method used in decision-making that involves assigning weightings to different factors or criteria and rating options to prioritize or select the best choice.

Labour Climate

The overall environment that affects the relationship, practices, and conditions under which employees work in a particular area or industry.

Taxes

Mandatory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Utilities

Services such as water, electricity, gas, and sewerage provided by public or private companies.