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When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit

When an industry relies heavily on government contracts, which forecasts can be the most important part of an external audit Correct Answer Political

When an industry relies heavily on government contracts, Political forecasts can be the most important part of an external audit. Political forecasting provides the contexruulity needed for decision-making and for forecasting 'non-political' trends.

Related Questions

In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the following suggested courses of actions logically follow(s) for pursuing. Statement: The Department of Telecommunications (DoT) is set to conduct ‘special audits’ of mobile phone operators from fiscal 2011-12 onwards to check for under-reporting of revenue that might account for a sharp downturn in license fees and spectrum usage charges (SUC). Annual license fees and SUC paid to the government are calculated based on a telco’s revenue. The audit, to be resumed after a gap of three years, comes when license fee and SUC due to the government fell in 2017 by more than 23% on the year and is expected to fall this year too. This is due to the brutal price war, which expedited a bloody consolidation that saw a spate of exits and mergers & acquisitions that dented telecom revenues.  Courses of action: I. All telecom companies will be audited soon and DoT is preparing for this. This will be the third audit and notices will go out soon. II. DoT proposes to conduct audit/special audit of Aircel for the period of seven years for financial years 2011-2012 to 2017-2018. III. Operators fear the new round of audit could lead to a new dues being demanded from the already stressed sector, sparking more litigation and be a drag on time and resources. 
The question given below consists of a statement, followed by three arguments numbered I, II and III. You have to decide which of the arguments is/are ‘strong’ arguments and which is/are ‘weak’ arguments and accordingly choose your answer from the alternatives given below each question. Statement: In the wake of globalization and digitization of the manner in which the business are conducted, the IT/ITES industry holds a significant place in the future business scenario. The Economic Survey 2017-18 mentioned that the IT/ITES services industry in India has scaled to around $140 billion during 2016-17. India today is globally the top outsourcing destination accounting for more than half of the market share. The IT/ITES industry has contributed around 7.7% of the country's GDP and according to IBEF is a key employment generator with a projection of creating 1.3-1.5 lakh new jobs annually. Which among the following arguments support the above statement in the best possible manner? Arguments: I. The Government has also provided considerable inputs to the industry with its various flagship programmes such as Digital India, Smart Cities, e-Governance coupled with a drive towards a cashless economy. II. The Government has been pro-active in considering demands of the industry and providing timely respite from the teething troubles under GST as well.  III. The IT/ITES industry is a labour intensive industry and a large scale employment generator. It is a common practice across the industry to provide various privileges and facilities to their staff in order to boost employee retention rates in their organisation.
Statement I: Management audit is a part of financial audit.
Statement II: Management audit is not compulsory under any law.
Directions : In each of the following questions a statement is given, followed by two conclusions. Give answer :

Statement : Sachin's mother instructed him to return home by train if it rains heavily.

Assumptions :
I. Sachin may not be able to decide himself if it rains heavily.
II. The trains may ply even if it rains heavily.
You are the administrator of a Windows 2000 Server computer. You configure the server to audit all access to files that are places in shared folders. One week after you configured the server, users report that the server has stopped responding. You investigate the problem and discover a stop error with the error message: Stop C0000244 (Audit Failed) An attempt to generate a security audit failed. You restart the computer. You need to ensure that you can keep a record of all files access on the server. You also need to ensure that the stop error will not occur again.
Which of the following statement is true?
1. The demand for human resource is modified by such employee actions as retirements, resignations and terminations.
2. Human resources forecasts are attempts to predict an organisation's future demand for employees.
3. Expert forecasts are based on the judgment of those who are knowledgeable of future human resource needs.
4. Major organisational decisions affect the demand for human resources.
Consider the following elements:
1. Scope of audit
2. Validity of appointment
3. Knowledge about business
4. Instruction to client
5. Division of work among audit clerks
The correct sequence of these elements for the commencement of a new audit will be
Statement I: Energy audit is an indepth check of the amount of energy being utilised.
Statement II: Energy audit includes general and preliminary audit.
In making decisions about important questions, it is desirable to be able to distinguish between strong and weak arguments. Strong arguments are those, which are both important and directly related to the question. Weak arguments are those, which are of minor importance and also may not be directly related to the question or may be related to a trivial aspect of the question. The questions below are followed by two arguments each numbered I and II. You have to decide which of the two arguments is the strong argument and which is the weak argument. Statement: Can the Government provide housing facilities to the homeless? Arguments: Yes. The Government can do anything and the homeless cannot get homes without the help of the Government. No. The Government does not have enough resources to provide for the housing facilities for such a large number of people. Instead the Government should build homeless shelters.
Which of the following statements regarding the chemical industry in India is/are correct? 1. The chemical industry is one of the oldest industries in India. 2. Dyestuff sector is one of the important segments of the chemical industry. 3. The textile industry accounts for the largest consumption of dyestuffs. Select the correct answer using the code given below: