What should be clarified about auditing methods?

Clarifying by what means and by what standards the audit is conducted is essential for ensuring the integrity and credibility of the auditing process. This includes defining the methodologies employed, the criteria against which the audit is assessed, and the legal and regulatory frameworks guiding the audit. Establishing clear auditing methods not only aids in maintaining consistency and transparency but also helps stakeholders understand how the findings were derived, which is crucial for trust in the results.

Choosing this approach enables organizations to identify potential areas for improvement, ensure compliance with relevant regulations, and demonstrate due diligence in their practices. Additionally, setting standards and methods can facilitate better communication among the auditors, management, and other stakeholders, leading to more actionable insights and improvements based on the audit findings.

While the other options address important considerations, such as ethical implications, financial return on investment, and the duration of audits, they do not focus on the foundation of audit credibility - the methods and standards by which audits are performed. Without clarity on these fundamental aspects, the effectiveness and utility of the audit process may be diminished.