Based on PCAOB Standards for an Internal Control Audit, Which

question 26

Multiple Choice

Based on PCAOB standards for an internal control audit, which of the following is least likely to indicate a significant deficiency relating to a client's antifraud programs?

• A) No program for anonymous submissions of alleged fraud.
• B) Audit committee active engagement in discussions on the topic of fraud.
• C) Senior management delegates to lower levels responsibility for oversight of antifraud programs.
• D) Lack of audit committee interaction with the internal audit department.

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Definitions:

Practice Manager

An individual responsible for overseeing the daily operations of a medical practice, ensuring efficient function and compliance with healthcare regulations.

Labor Relations

The relationship and negotiations between employers and their employees, often involving unions.

Terminating

The act of bringing something to an end or conclusion, often used in the context of contracts, employment, or processes.

Practice Budget

The financial plan for the operation of a medical practice, outlining the expected revenues and expenditures.