Answer(s): A
QUESTION: 63
For Example one exception in 1000 cases is probably not the reason enough to recommend
overhauling the entire system, although the final answer must be derived from the context and
the condition of the related control system. Which one of the following statements is clearly
supported by this example?

A. Auditors should base findings and recommendations on significant information
B. Auditors should be aware of that the concept of materiality and significance take on different
meanings in the public and private sectors
C. Both of these
D. None of these

Answer(s): A
QUESTION: 64
A manager of a very controversial program may have stolen only $200, but the controversy and
public accountability aspects may make the 200 significant, where it would not be material
private sector financial statement opinion audit. It means:

A. Auditors should be aware that the concepts of materiality and significance take on different
meanings in the public and private sector
B. During the planning and reporting processes, government auditors may need to consider
qualitative factors such as the visibility of the program under audit, or the newness of the
program or changes in its condition
C. Both of these
D. None of these

Answer(s): C
QUESTION: 65
Audit evidence:

A. Is sufficient when it is factual and would convince an informed person to reach the same
conclusion
B. Is competent if it consistently produces the same outcomes
C. Is relevant when it is directly related to audit comments, recommendations and conclusions
D. Al of these

Answer(s): D
QUESTION: 66
Data gathering and evaluation during field work includes:

A. Gaining and understanding of the activity, system, or process under review
B. Observing conditions and operations

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