Jimmy & Co are the auditors of Metal Co.Ltd. Metal Co Ltd. have approached the bank to extend their overdraft limit in order to finance a short term project they intend to undertake. The bank has asked that cash flow projections be provided for the project and that assurance be provided over the projections by Jimmy & Co. The type of assurance engagement that is undertaken by Jimmy and Co, is known as: Assurance engagement External audit Internal audit Review engagement Internal audit means: An audit undertaken internally by the audit department to review the business operation An audit undertaken by an independent auditor to improve the business entity's affairs An audit undertaken to ascertain the truth and fairness of state of affairs An audit undertaken by a chartered accountant to evaluate the efficiency of managemer Which one of the following factor does NOT affect the duration of the audit? Number of directors Access to records Access to personnel Timeliness of responses to audit requests