In This Type of Internal Peer Review Program,a Partner Not

question 21

Multiple Choice

In this type of internal peer review program,a partner not otherwise involved in the audit performs a review near the end of each audit to make sure that documented evidence supports the audit opinion.

• A)Benchmark audit.
• B)Engagement quality review
• C)Interoffice review
• D)Supplementary review

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Definitions:

Accrued Interest

The interest that has accumulated on a bond or other fixed-income security since the last interest payment was made.

Settlement

The process of exchanging payment for financial transactions, including securities, at their completion.

Semiannual Coupon

Bonds that pay interest to the holder twice a year.

Accrued Interest

Interest that has been incurred but not yet paid, typically relevant in bond investments.