An objective for an audit of a medical research corporation is to evaluate management's controls to ensure that timely reports are submitted to sponsors of contracted research projects. In planning the audit to achieve this objective, the auditor should begin by:
A) Reviewing policies and procedures.
B) Interviewing a group of research managers.
C) Observing report preparation in a number of laboratories.
D) Sending a questionnaire to a sample of research sponsors.

Question

Quizplus · Accepted Answer

Reviewing policies and procedures is the first step in understanding the framework and guidelines that management has established for ensuring timely report submissions. This provides the auditor with a foundation to assess the effectiveness of the controls in place.

An Objective for an Audit of a Medical Research Corporation