The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the:
A. evidence to be gathered to provide a sufficient basis for the auditor's opinion.
B. methods of statistical sampling to be used in confirming accounts receivable.
C. pending legal matters to be included in the inquiry of the client's attorney.
D. timing of the audit.
Answer: D
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The following two sets of priorities assume the same priorities: {P1=300, P2=300, P3=20, and P4=10} and {P1=30, P2=30, P3=2, and P4=1}
a. True b. False
Nguyen’s firm is nonunionized and yet has a grievance procedure in place that is very similar to that of unionized organizations. Apparently his firm is:
a. a philosophy-laden firm b. pro-union c. utilizing unfair labor practices to avoid unionization d. a doctrinaire firm e. in a right-to-work state
Businesses collect a tremendous amount of ________ information as part of their routine operations.
A. aggregate B. operational C. transactional D. comparative
Necessaries include
a. the basics-food, clothing and shelter. b. the services of an attorney. c. things included in the minor's station in life. d. all of these.