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1. The use of computer systems in financial reporting increases the risk of material misstatements. true or false 2. Automated controls in a computerized system are always more reliable than manual controls. true or false 3. Which of the following is NOT a requirement for an auditor to maintain independence? a. The auditor must not be related to any employees of the company being audited b. The auditor must not have any financial interest in the company being audited c. The auditor must not have any business relationships with the company being audited d. The auditor must have a significant financial stake in the company being audited 4. Which of the following is NOT a type of computer system control? a.Input controls b.Processing controls c.Output controls d.Feedback controls

1. The use of computer systems in financial reporting increases the risk of material misstatements. true or false 2. Automated controls in a computerized system are always more reliable than manual controls. true or false 3. Which of the following is NOT a requirement for an auditor to maintain independence? a. The auditor must not be related to any employees of the company being audited b. The auditor must not have any financial interest in the company being audited c. The auditor must not have any business relationships with the company being audited d. The auditor must have a significant financial stake in the company being audited 4. Which of the following is NOT a type of computer system control? a.Input controls b.Processing controls c.Output controls d.Feedback controls

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter13: Auditing Debt, Equity, And Long-term Liabilities Requiring Management Estimates
Section: Chapter Questions
Problem 24CYBK
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1. The use of computer systems in financial reporting increases the risk of material misstatements. true or false

2. Automated controls in a computerized system are always more reliable than manual controls. true or false

3. Which of the following is NOT a requirement for an auditor to maintain independence?

a. The auditor must not be related to any employees of the company being audited
b. The auditor must not have any financial interest in the company being audited
c. The auditor must not have any business relationships with the company being audited
d. The auditor must have a significant financial stake in the company being audited
4. Which of the following is NOT a type of computer system control?
a.Input controls
b.Processing controls
c.Output controls
d.Feedback controls
 
 
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