An Audit Program Is Created to Specify Which of the Following

question 47

Multiple Choice

An audit program is created to specify which of the following?

• A)the type of audit opinion to be rendered based upon procedures performed.
• B)the audit procedures that will be performed every year for the client.
• C)how an auditor should think while performing audit procedures.
• D)audit objectives and procedures to be followed during the audit process.

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Definitions:

Value Judgments

Value judgments are assessments or opinions based on personal values, beliefs, or ethics, rather than on empirical evidence or objective criteria.

Economic Models

Economic models are simplified representations of complex economic processes, used to predict future economic activities and policy outcomes.

Government Policies

Strategies and actions taken by the government to influence the economy or address societal issues.

Simplifying Assumptions

Basic assumptions made in economic models to eliminate complex factors and make analysis more manageable, even if they might not fully hold in the real world.