Which of the Following Procedures Would an Auditor Most Likely

question 33

Multiple Choice

Which of the following procedures would an auditor most likely perform while evaluating audit findings at the conclusion of an audit?

• A) Obtain assurance from the entity's attorney that all material litigation has been disclosed in the financial statements.
• B) Verify the clerical accuracy of the entity's proof of cash and its bank cutoff statement.
• C) Determine whether reportable conditions have been corrected.
• D) Develop an estimate of the total likely misstatement in the financial statements.

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Definitions:

Physical Exercise

Bodily activity that enhances or maintains physical fitness and overall health and wellness.

Memory

The cognitive function that allows us to encode, store, and retrieve information from the past.

Cognition

The process of obtaining information and grasping its meaning through intellectual engagement, personal experiences, and the use of our sensory organs.

Alert

The state of being watchful and prompt to meet danger or emergency, or to act if necessary.