Chapter 6

by: achristo24
  1. 1

    An auditor's primary consideration regarding an entity's internal controls is whether they

  2. 2

    Which of the following statements about internal control is correct?

  3. 3

    Which of the following is not a component of an entity's internal control system?

  4. 4

    In which of the following situations would an auditor most likely use a reliance strategy?

  5. 5

    After obtaining an understanding of an entity'ss internal control system, an auditor may set control risk at the maximum level for some assertions because he or she

  6. 6

    Regardless of the assessed level of control risk, an auditory would perform some

  7. 7

    Assessing control risk below maximum involves all of the following except

  8. 8

    Which of the following audit techniques would most likely provide an auditor with the most assurance about the effectiveness of the operation of an internal control?

  9. 9

    Audit evidence concerning proper segregation of duties ordinarily is best obtained by

  10. 10

    Reports on service organizations typically

  11. 11

    Significant deficiencies are matters that come to an auditor's attention that should be communicated to an entity's audit committee because they represent

  12. 12

    An auditor's flowchart of a client's accounting system is adiagrammatic representation that depicts the auditor's

  13. 13

    An auditor anticipates assessing control risk at a low level in an IT environment. Under these circumstances, on which of the folllowing controls would the auditor initially focus?

  14. 14

    Proper segregation of functional responsibilities in an effective system of internal accounting control calls for separation of the functions of

  15. 15

    The transaction-related assertion of completeness ensures that

  16. 16

    When an auditor increases the planned assessed level of control risk because certain control activities were determined to be ineffective, the auditor would most likely increase the

  17. 17

    An effective control environment

  18. 18

    After completing the preliminary phase of the review of internal accounting control, the auditor decides not to rely on the system to restrict substantive tests. Documentation may be limited to the au

  19. 19

    The documentation of an auditor's understanding of internal controls

  20. 20

    The basic concept of internal control which recognizes that the cost of internal control should not exceed the benefits expected to be derived is known as

  21. 21

    The independent auditor selects several transactions in each functional area and traces them through the entire system, paying special attention to evidence about whether or not the control activities

  22. 22

    An auditor would most likely be concerned with internal control policies and procedures that provide reasonable assurance about the

  23. 23

    To obtain evidential matter about control risk, an auditor selects tests from a variety of techniques including

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