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EBK AUDITING+ASSURANCE SERVICES
17th Edition
ISBN: 9780135171219
Author: ARENS
Publisher: PEARSON CO
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Chapter 14, Problem 9RQ
To determine
Explain methods of internal control that the client can use to address the requirement of footnote enclosures and a method of test control the auditor can perform to test the operating effectiveness of the control.
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Students have asked these similar questions
Service organization control (SOC) reports may be requested by auditors when a service organization processes transactions related
to a client's (user organization) internal control over financial reporting.
Required:
For each of the following statements related to Service Organization Control (SOC) reports, indicate whether it is appropriately related
to a Type 1 report (T1), Type 2 report (T2), both a Type 1 and Type 2 report (B), or neither a Type 1 or Type 2 report (N).
a. Disclaims an opinion on the fairness of the entity's financial statements.
b. Provides a description of the service organization's internal control over financial reporting.
c. Summarizes tests of operating effectiveness of controls at the service organization.
d. Expresses an opinion on the suitability of design of internal controls over financial reporting. B
e. Use of the service auditor's report is restricted to specified parties.
f. Would be requested when client is an issuer.
g. Disclaims an opinion on the…
Tests of controls in a GAAS audit are required fora. Obtaining evidence about the financial statement assertions.b. Accomplishing control over the occurrence of recorded transactions.c. Applying analytical procedures to financial statement balances.d. Obtaining evidence about the operating effectiveness of client control activitie
Chapter 14 Solutions
EBK AUDITING+ASSURANCE SERVICES
Ch. 14 - Describe the following documents and records and...Ch. 14 - Prob. 2RQCh. 14 - Prob. 3RQCh. 14 - Prob. 4RQCh. 14 - Prob. 5RQCh. 14 - Prob. 6RQCh. 14 - Prob. 7RQCh. 14 - Prob. 8RQCh. 14 - Prob. 9RQCh. 14 - Prob. 10RQ
Ch. 14 - Prob. 11RQCh. 14 - Prob. 12RQCh. 14 - Prob. 13RQCh. 14 - Prob. 14RQCh. 14 - Prob. 15RQCh. 14 - Prob. 16RQCh. 14 - Prob. 17RQCh. 14 - Prob. 18RQCh. 14 - Prob. 19RQCh. 14 - Prob. 20.1MCQCh. 14 - Prob. 20.2MCQCh. 14 - Prob. 20.3MCQCh. 14 - Prob. 21.1MCQCh. 14 - An auditor is performing substantive tests of...Ch. 14 - Prob. 22.3MCQCh. 14 - Prob. 23.1MCQCh. 14 - Prob. 23.2MCQCh. 14 - Prob. 23.3MCQCh. 14 - Prob. 24DQPCh. 14 - Prob. 25DQPCh. 14 - Prob. 26DQPCh. 14 - Prob. 27DQPCh. 14 - Prob. 28DQPCh. 14 - Prob. 29DQPCh. 14 - Prob. 30DQPCh. 14 - Prob. 31DQPCh. 14 - Prob. 32DQPCh. 14 - Prob. 33DQPCh. 14 - Prob. 34DQPCh. 14 - Prob. 37ICA
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