A manager of a very controversial program may have stolen only $200, but the controversy and public accountability aspects may make the 200 significant, where it would not be material private sector financial statement opinion audit. It means
A) Auditors should be aware that the concepts of materiality and significance take on different meanings in the public and private sector
B) During the planning and reporting processes, government auditors may need to consider qualitative factors such as the visibility of the program under audit, or the newness of the program or changes in its condition
C) Both of these
D) None of these
Correct Answer:
Verified
Q18: Strategic planning is the process of taking
Q19: "Internal auditors make a balanced assessment of
Q20: Both residual and control risk need to
Q21: Factor/s that influences/influence the state of an
Q22: The extent to which an organization has
Q24: Compliance testing is designed primarily to:
A) Hold
Q25: If more funds than expected are needed
Q26: _ result from a failure to follow
Q27: Which one of the following is NOT
Q28: An organization might decide that the risk
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents