uld consider whether A. the evidential matter obtained from the study of the internal control system can provide a reasonable basis for an opinion. B. the projected degree of effectiveness of internal control is justified. C. further testing of internal control procedures is likely to permit further reduction in the asses
uld consider whether A. the evidential matter obtained from the study of the internal control system can provide a reasonable basis for an opinion. B. the projected degree of effectiveness of internal control is justified. C. further testing of internal control procedures is likely to permit further reduction in the asses
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
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 37CYBK
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Question
After obtaining an understanding of the client's internal control, the auditor should consider whether
A. the evidential matter obtained from the study of the internal
B. the projected degree of effectiveness of internal control is justified.
C. further testing of internal control procedures is likely to permit further reduction in the assessed level of control risk.
D. sufficient knowledge has been obtained about the entity's entire system of internal control.
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