Two types of audit tests
What are the two types of audit tests? What are some examples of each of these two types of tests? How will the auditor use the data gathered from these tests?
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Why do auditors have to consider the internal controls of the organization? What are some key elements of internal control? Which are the most important?
Describe the market and manufacturing requirements which make it suitable to use MRP and Just-in-Time.
How are analytical procedures employed in audit engagement? What premise underlies the use of analytical procedures in auditing? What sources of information can auditor use to develop expectations? Please provide examples.
Describe how market economy compensates for market surplus. What about market shortage? Why is price driven toward equilibrium? How does relate to laissez-faire.
Explain the two types of audit tests? What are some examples of each of these two types of tests? How will the auditor use the data gathered from these tests?
Identify and discuss 3 examples of routine or transactional change during your work experience.
Explain the purpose of engagement planning? What critical information should the auditor consider during engagement planning? How will this information affect the scope of the audit?
Describe the production possibility curve. Distinguish between points on curve, points outside curve, and points inside curve.
What are the components of the audit risk model? How does the audit risk model affect an audit plan?
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