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NEW QUESTION: 1
Which one of the following is NOT a step for benchmarking to establish a baseline goal?
A. Identify the organizations you desire to baseline against
B. Compare baseline calculations
C. Select a 'process model' for the organization
D. Develop a clearly defined baseline in your organization
Answer: C

NEW QUESTION: 2
Which of the following is a documentation requirement that an auditor should follow when auditing in
accordance with Government Auditing Standards?
A. The auditor should document the procedures that assure discovery of all illegal acts and contingent
liabilities resulting from noncompliance.
B. Audit documentation should contain sufficient information so that supplementary oral Explanations are
not required.
C. Audit documentation should contain a caveat that all instances of material errors and fraud may not be
identified.
D. The auditor should obtain written representations from management acknowledging responsibility for
correcting instances of fraud, abuse, and waste.
Answer: B
Explanation:
Explanation/Reference:
Explanation:
Choice "B" is correct. Per Government Auditing Standards, audit documentation should contain sufficient
information so that supplementary oral Explanations are not required.
Choice "A" is incorrect. The auditor should obtain written representation from management acknowledging
responsibility for "violations or possible violations of laws or regulations whose effects should be
considered for disclosure in the financial statements or as a basis for recording a loss contingency."
Choice "C" is incorrect. The auditor should document procedures performed to evaluate compliance with
laws and regulations that have a direct and material effect on the determination of financial statement
amounts.
Choice "D" is incorrect. There is no such requirement that audit documentation contain this caveat.

NEW QUESTION: 3
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Answer:
Explanation:

Explanation



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