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Answer choices in this exercise appear in a different order each time the page is loaded. Which of the following is true related to the auditor's consideration of controls?Which of the following is true related to the auditor's consideration of controls? Misstatements detected by the auditor's substantive procedures should be considered when testing the effectiveness of related controls.
Which of the following is true about the auditors Consideration of internal control in a financial statement audit?Which of the following is true about the auditors' consideration of internal control in a financial statement audit? The auditors must assess control risk at a level lower than the maximum.
What are the considerations an auditor must take into account when deciding whether a control deficiency is severe or a material weakness?Furthermore, in determining whether a control deficiency, or combination of deficiencies, is a significant deficiency or a material weakness, the auditor should evaluate the effect of compensating controls and whether such compensating controls are effective.
Which of the following would an auditor most likely consider in evaluating the control environment of an audit client?Which of the following would an auditor most likely consider in evaluating the control environment of an audit client? Management's operating style. The control environment is the foundation for the other components of internal control. It provides discipline and structure and sets the tone of the organization.
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