18 Questions
Suitable criteria are required for consistent evaluation of a subject matter within professional judgment.
True
Without suitable criteria, conclusions are not open to individual interpretation and misunderstanding.
False
Different responsible parties can select the same criteria for the subject matter of customer satisfaction.
False
Suitable criteria should exhibit characteristics such as relevance, completeness, and reliability.
True
Complete criteria do not need to include benchmarks for presentation and disclosure.
False
Reliable criteria allow inconsistent evaluation of the subject matter when used in similar circumstances by differently qualified practitioners.
False
An appropriate subject matter must be capable of consistent evaluation against identified criteria.
True
Less formal criteria can include internally developed codes of conduct.
True
In reporting on compliance, the criteria may be an established internal control framework.
False
Suitable criteria are only formal and cannot include less formal benchmarks.
False
Three Party Relationship is a key element in the preparation of financial statements.
False
Assurance report notes characteristics relevant to the intended users only.
False
Established criteria are always embodied in laws or regulations.
False
Specifically developed criteria are suitable if they are based on the practitioner's own expectations.
False
The relative importance of each characteristic of criteria is fixed and not a matter of judgment.
False
Criteria for an engagement can only be established and not specifically developed.
False
Intended users should not have access to criteria used for evaluating the subject matter.
False
Transparent due process is only followed when establishing criteria; specifically developed criteria do not require transparency.
False
Learn about the importance of having suitable criteria for evaluation in professional judgment, the impact of lacking criteria, and how criteria can vary based on engagement circumstances. Explore how different parties may select different criteria for the same subject matter.
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