Generic Audit Steps:
Fill in the Blanks with Appropriate Words

question 23

Short Answer

Generic audit steps:
Fill in the blanks with appropriate words or phrases based on the generic steps of financial statement audits. Then, number the steps in the order of their occurrence. $$\begin{array} { | l | l | } \hline \text { Order } & { \text { Step } } \\\hline & { \text { \_\_\_management's credentials. } } \\\hline & \text { Assess\_\_\_ } \\\hline & \text { Issue the\_\_\_ } \\\hline & \text { Perform\_\_\_ } \\\hline & \text { Review the\_\_\_ } \text { system. } \\\hline\end{array}$$

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Definitions:

Bystanders

Individuals who are present at an event or incident but do not take part.

Observers

Observers are individuals or entities who watch or monitor events, behaviors, or processes, often for the purpose of recording data, understanding dynamics, or ensuring compliance.

Common Ground

Shared interests, beliefs, or values among parties that can be used as a basis for agreement.

Group Negotiations

A process involving multiple individuals or groups coming together to discuss and reach agreements on shared interests or conflicts.