Why is a 100% audit not possible for some companies? A. Some companies are too large B. People are dishonest C. Some companies have incomplete data D. None of these answer
Why is a 100% audit not possible for some companies? A. Some companies are too large B. People are dishonest C. Some companies have incomplete data D. None of these answer
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter14: Completing A Quality Audit
Section: Chapter Questions
Problem 22CYBK
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Why is a 100% audit not possible for some companies?
A. Some companies are too large
B. People are dishonest
C. Some companies have incomplete data
D. None of these answer
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Follow-up Question
What is one major difference between a compilation and a review?
A. CPA conducting a review must be independent
B. Anyone in the company can complete a review
C. Skills used in compilations do not transfer to other professions
D. A compilation is complete by a CPA
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