When Planning an Audit, an Auditor Should

question 47

Multiple Choice

When planning an audit, an auditor should:

• A) Consider whether the extent of substantive procedures may be reduced based on the results of the internal control questionnaire.
• B) Make preliminary judgments about materiality levels for audit purposes.
• C) Conclude whether changes in compliance with prescribed control procedures justifies reliance on them.
• D) Prepare a preliminary draft of the management representation letter.

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Definitions:

Peace and Acceptance

A state of mind characterized by tranquility and a positive reception of one's current circumstances.

Spiritual Care

The support and guidance provided to individuals in matters related to their beliefs, values, and connection to the divine or something greater than themselves, especially during challenging times.

Altruism

The selfless concern for the well-being of others, often leading to acts of kindness without expectation of reciprocation.

Vulnerability

The state of being exposed to the possibility of being attacked or harmed, either physically or emotionally.