The Final Phase of an Audit Includes Which of the Following

question 8

Multiple Choice

The final phase of an audit includes which of the following?

• A) performing substantive tests of account balances
• B) gaining an understanding of the client's internal control system
• C) confirming the terms of the audit engagement with the auditor
• D) determining whether the audit evidence obtained is sufficient and appropriate to reduce the risk of material misstatements in the financial statements to an acceptably low level

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Definitions:

Superego

In psychoanalytic theory, the part of personality that represents internalized moral standards and ideals, guiding behavior towards socially acceptable actions.

Archetype

In psychology, universal, innate models or symbols found in the unconscious that shape human thoughts, behaviors, and experiences.

Moral Guardian

An individual or entity that assumes the responsibility of guiding others towards what they perceive as moral or ethical behavior.

Superego

A component of Sigmund Freud's psychoanalytic theory that represents the moral conscience and counteracts the impulses of the id.