nternal control should be designed to provide reasonable assurance that a. Management’s planning, organizing, and directing processes are properly evaluated b. Management’s plans have not been circumvented by employee collusion c. Material errors or fraud will be prevented, or detected and corrected within a timely period by employees in the course of performing their assigned duties d. The internal auditing department’s guidance and oversight of management’s performance is accomplished economically and efficiently
nternal control should be designed to provide reasonable assurance that a. Management’s planning, organizing, and directing processes are properly evaluated b. Management’s plans have not been circumvented by employee collusion c. Material errors or fraud will be prevented, or detected and corrected within a timely period by employees in the course of performing their assigned duties d. The internal auditing department’s guidance and oversight of management’s performance is accomplished economically and efficiently
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
Chapter14: Completing A Quality Audit
Section: Chapter Questions
Problem 32CYBK
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Question
Internal control should be designed to provide reasonable assurance that
a. Management’s planning, organizing, and directing processes are properly evaluated
b. Management’s plans have not been circumvented by employee collusion
c. Material errors or fraud will be prevented, or detected and corrected within a timely period by employees in the course of performing their assigned duties
d. The internal auditing department’s guidance and oversight of management’s performance is accomplished economically and efficiently
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