Scenario - Brininger Enterprises Rapid City, South Dakota has been home to Brininger Enterprises since 1984. This company is recognized around the world for its superior cutlery and currently ranks as number three within the industry. In 2011, Brininger Enterprises recorded gross sales of over sixteen million dollars. From its gross sales, the company claimed net profits of four million dollars. Brininger Enterprises is quite proud of its performance. It realizes the company's financial records truly show this organization is doing something right. Brininger Enterprises conducts extensive internal audits to insure the reliability and accuracy of its accounting records. Which one of the following is least likely a step in its internal auditing process?

Question

Scenario - Brininger Enterprises Rapid City, South Dakota has been home to Brininger Enterprises since 1984.  This company is recognized around the world for its superior cutlery and currently ranks as number three within the industry.  In 2011, Brininger Enterprises recorded gross sales of over sixteen million dollars.  From its gross sales, the company claimed net profits of four million dollars. Brininger Enterprises is quite proud of its performance.  It realizes the company's financial records truly show this organization is doing something right. Brininger Enterprises conducts extensive internal audits to insure the reliability and accuracy of its accounting records.  Which one of the following is least likely a step in its internal auditing process?

Quizplus · Accepted Answer

Brininger Enterprises conducts internal audits to ensure the reliability and accuracy of its accounting records. The least likely step in its internal auditing process would be to publicize its results in the financial news, as internal audits are conducted only for the company's internal purposes and are not meant to be publicly shared. The other options - communicating the results, obtaining and evaluating evidence, planning the audit, and arriving at an audit opinion - are all critical steps in the internal auditing process and are therefore more likely to be performed by Brininger Enterprises.

Scenario - Brininger Enterprises Rapid City, South Dakota Has Been