A first-time audit requires more work than a repeat engagement.

Name: A first-time audit requires more work than a repeat engagement.
Brand: Quizplus
Rating: 4.9 (53 reviews)

Question

Quizplus · Accepted Answer

A first-time audit requires more work than a repeat engagement because the auditor needs to gain an understanding of the company's operations, accounting systems, and internal controls, which takes more time and effort than a repeat engagement where the auditor already has this knowledge.

A First-Time Audit Requires More Work Than a Repeat Engagement