Auditors Use a Re-Performance Procedure

question 41

Multiple Choice

Auditors use a re-performance procedure:

• A) only when testing controls.
• B) only during the audit planning stage.
• C) only when conducting substantive testing.
• D) when testing controls and when conducting substantive testing.

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Definitions:

Positive Statement

An objective statement based on facts and evidence that can be tested and verified, focusing on describing "what is".

Economic Policy

Strategies and actions taken by the government to influence its economy, including policies on spending, taxation, and regulation.

Goal

An objective or desired outcome that an individual or organization aims to achieve within a specific timeframe.

Economic Models

Simplified representations of complex economic processes, used to predict and analyze economic behaviors and outcomes.