The recommendations applicable to the accounts and audit includes: a) The board should present a balanced and understandable assessment of the company's position and prospects b) The board should maintain a sound system of internal control to safeguard shareholders' investment and the company's assets. c) The board should, at least annually, conduct a review of the effectiveness of internal controls and should report that they have done so. d) The board should establish formal and transparent arrangements to consider how they should apply the financial reporting and internal control principles and for maintaining an appropriate relationship with the auditors All a) , b) , c) and d) Only a) , b) and c) Only b) , c) and d) Only a) , b) and d)
The recommendations applicable to the accounts and audit includes: a) The board should present a balanced and understandable assessment of the company's position and prospects b) The board should maintain a sound system of internal control to safeguard shareholders' investment and the company's assets. c) The board should, at least annually, conduct a review of the effectiveness of internal controls and should report that they have done so. d) The board should establish formal and transparent arrangements to consider how they should apply the financial reporting and internal control principles and for maintaining an appropriate relationship with the auditors All a) , b) , c) and d) Only a) , b) and c) Only b) , c) and d) Only a) , b) and d)
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
Chapter1: Quality Auditing: Why It Matters
Section: Chapter Questions
Problem 3CYBK
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The recommendations applicable to the accounts and audit includes:
a) The board should present a balanced and understandable assessment of the company's position and prospects
b) The board should maintain a sound system of internal control to safeguard shareholders' investment and the company's assets.
c) The board should, at least annually, conduct a review of the effectiveness of internal controls and should report that they have done so.
d) The board should establish formal and transparent arrangements to consider how they should apply the financial reporting and internal control principles and for maintaining an appropriate relationship with the auditors
All a) , b) , c) and d)
Only a) , b) and c)
Only b) , c) and d)
Only a) , b) and d)
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