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

Quizplus · Accepted Answer

The least likely step in Brininger Enterprises' internal auditing process is to publicize its results in the financial news. While the company may choose to communicate the results of its audits internally, to stakeholders, or in regulatory filings, it is unlikely that they would publicly share all of the details of their auditing process and results with the broader financial news media. The other four steps listed are all important components of a standard audit process: planning the audit, obtaining and evaluating evidence, arriving at an audit opinion, and communicating the results.