Benchmarking Is an Audit Strategy That Can Be Used to Carry

question 14

True/False

Benchmarking is an audit strategy that can be used to carry forward the benefit of certain application controls testing into future audit periods.

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Definitions:

Undue Influence

A situation where an individual is persuaded to act against their will or best interest through the excessive pressure or manipulation of another, impacting contractual agreements.

Voidable

Describes a contract or transaction that remains valid until it is declared void by one of the parties due to certain conditions such as fraud or misrepresentation.

Fraud

The intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Immigrant

A person who moves to a country other than their own for the purpose of permanent residence.