Procedures that can be used in obtaining a sufficient understanding of Internal Control include the combination of any of the following procedures, except; a. Inquiry of the profile and appropriateness of the client's personnel b. Future engagement plan with the client c. Review of the accounting manuals and organizational structure of the client d. Observation of the activities of the client e. Previous experience with the client

Q: The primary purpose of the internal auditors' evaluation of internal control is to

A: Internal auditor is responsible for providing his judgement on internal control operations of…

Q: 1. Explain how an audit committee  could improve its effectiveness on internal auditor's control…

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: Who has responsibility for internal control in an organization? According to guidelines set forth in…

A: Sarbanes Oxley Act: In order to protect the rights of an investor from fraudulent practices by the…

Q: With whom should the auditor communicate whenever he or she determines that fraud may be present,…

A: Auditor is the person examining the financial statements and reports of an entity to check if the…

Q: The major purposes of obtaining a client representation letter include:   Select one: a.  To…

A: The letter of representation is a letter drafted by the client to the auditor. This letter of…

Q: A transaction-level internal control activity is best described asa. An action taken by auditors to…

A: Answer:   Option b

Q: COSO lists five components of internal control: control environment, risk assessment, control…

A: COSO:   It is framework that defines the internal control of an organization as an entity formed by…

Q: What does it mean the audit documentation should be self-explanatory? O a. It shall be sufficient to…

A: An audit is a process of checking and verifying the books of account and financial information of…

Q: A conceptually logical approach to the​ auditor's evaluation of internal control consists of the…

A: Please see Step 2 for required information.

Q: Indicate the COSO component that matches with each of the following internal control activities.…

A: Internal control activities COSO components a. Reporting of control effectiveness  Information and…

Q: ll statements are true B. all statements are false C. S1 and S2 are true D. S1 and S3 are true

A: Correct option : A

Q: An auditor can receive one of three types of report from a Service Organizations when providing…

A: SOC 2 reports are issued by auditors regarding controls in service organisations

Q: Tests of controls in a GAAS audit are required fora. Obtaining evidence about the financial…

A: Formal criteria used by auditors when carrying out audits of corporate financial reports are a…

Q: The Performance Principle in AICPA auditing standards requires the auditor to obtain a sufficient…

A: An auditor is a person who checks the financial statements of the company. An auditor checks the…

Q: Assume that a CPA serves as an audit client’s business consultant and performs each of the following…

A:

Q: Identify which of the major fundamental principles (responsibilities, performance, or reporting) is…

A:

Q: Indicate the COOO component that matches with each of the following internal control activities.…

A: Internal control is a series of activities based on an organization's standard procedures that aim…

Q: Identify from the following the department who are responsible to appoint internal auditors and…

A: Internal audit is one of the pivotal pillars of the internal control mechanism of the organisation

Q: In the integrated audit of an issuer, which of the following would not be considered an entity-level…

A: Internal control is the managements’ effective and efficient controls for achieving goals and…

Q: What organizations and agencies have rules of conduct that you must observe when you practice(a)…

A: A rule of conduct is a set of norms and regulations practiced by an individual, or organizations. It…

Q: Which of the following is the independent auditor’s principal purpose for obtaining an understanding…

A:

Q: hich of the following best describes the internal audit activity's role in supporting the board in…

A: Internal audit refers to the process of investing and evaluating the internal control system of the…

Q: explain each choices. Reportable conditions are matters that come to an auditor's attention and that…

A: Internal  Control: An entity's board of directors, management, and other people are the ones who…

Q: Which of the following documents or/ and procedures should be used by the auditor to gain a better…

A: Audit is the process of verifying and examining the financial statements and control procedures…

Q: The auditor’s primary consideration is whether, and how, internal control prevents, or detects and…

A: The answer for the theory question on Auditing is discussed hereunder :

Q: d. Internal auditing is also known as operational auditing. e. BIR auditing is also known as…

A: Internal Auditing is also Known as Operational auditing   Answer: TRUE   Reason : Operational Check…

Q: system of supervision and control

A: Option a is wrong because internal check is the test to verify the given item or procedure. It is…

Q: which one is not the responsibility of management towards auditor.

A: As per ISA 210 ( Agreeing to the terms of audit engagement )  Preconditions of an audit include…

Q: Which of the following is NOT a requirement in management’s report on the effectiveness of internal…

A:

Q: List at least 5 control measures per principle of control activities (Establishment of…

A: Internal control refers to that mechanism ,rules and procedures of the company  for preventing…

Q: A CPA firm’s quality control procedures pertaining to the acceptance of a prospective audit client…

A: CPA is the Certified public accountant which is generally appointed in order to perform audit…

Q: which of the following areas would an internal audit be required to have proficiency when carrying…

A: Internal auditor be required to have proficiency when carrying out an audit of corporate governance…

Q: In making a decision whether to accept or reject an engagement, an auditor should consider…

A: An auditor should accept the audit engagement after checking certain preconditions and evaluation of…

Q: Which of the following control objectives in the General Ledger activities under the…

A: Following are the options in which extensive audit procedures are required due to regulations: If…

Q: Which of the following is TRUE about Internal Audit? Internal audit is described as the verification…

A: The role of internal audit is to provide independent assurance that an organization’s risk…

Q: Please respond promptly:…

A: Introduction:- Internal control means:- Internal controls are company policies and procedures and…

Q: Which of the following control objectives in the General Ledger activities under the…

A: Auditing Procedures The purpose of adopting Auditing procedures which are important to the Auditing…

Q: .Which of the following control objectives in the General Ledger activities under the…

A: Answer: There are control objectives for General ledger activities under record to report process.

Q: In making client acceptance and continuance decisions, the auditor will perform various procedures…

A: ISA 210 Agreeing the terms of Audit Engagement: This Standard deals with the preconditions for…

Q: What is meant by internal control based on the professional standards of a public accountant is: a.…

A: Internal control means a process of doing the work effectively so that objective can be achieved and…