Cornerstones of Financial Accounting
4th Edition
ISBN: 9781337690881
Author: Jay Rich, Jeff Jones
Publisher: Cengage Learning
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Question
Chapter 4, Problem 26BE
To determine
Introduction:
This is a committee of Sponsoring Organization of the Treadway Commission (coso). This is also a model which is effected form the upper management and also lower management, and provided better management for business for achieved the target.
To choose:
Define and discuss these five components internal control.
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4.
List three (3) of the five (5) internal control components stated by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) for public companies to follow:
________________
________________
________________
Based on the information in scenario A: Classify findings (1 – 7) according to the five components of the COSO internal control framework.
8.
Establishing and maintaining an internal control structure is the responsibility of the:
Select one:a. Internal auditor.b. Audit committeec. External auditor.d. Management.
Chapter 4 Solutions
Cornerstones of Financial Accounting
Ch. 4 - Prob. 1DQCh. 4 - Prob. 2DQCh. 4 - The Sarbanes-Oxley Act increased top managements...Ch. 4 - Prob. 4DQCh. 4 - Prob. 5DQCh. 4 - Prob. 6DQCh. 4 - Prob. 7DQCh. 4 - Prob. 8DQCh. 4 - Prob. 9DQCh. 4 - Prob. 10DQ
Ch. 4 - Prob. 11DQCh. 4 - Prob. 12DQCh. 4 - Prob. 13DQCh. 4 - Prob. 14DQCh. 4 - Prob. 15DQCh. 4 - Prob. 16DQCh. 4 - Prob. 17DQCh. 4 - Prob. 18DQCh. 4 - Prob. 19DQCh. 4 - Prob. 20DQCh. 4 - Prob. 21DQCh. 4 - Prob. 22DQCh. 4 - Prob. 1MCQCh. 4 - Prob. 2MCQCh. 4 - Which of the following is not one of the five...Ch. 4 - Prob. 4MCQCh. 4 - The internal audit function is part of what...Ch. 4 - Prob. 6MCQCh. 4 - Prob. 7MCQCh. 4 - Prob. 8MCQCh. 4 - Which one of the following would not appear on a...Ch. 4 - Prob. 10MCQCh. 4 - Prob. 11MCQCh. 4 - Prob. 12MCQCh. 4 - Prob. 13MCQCh. 4 - Prob. 14MCQCh. 4 - Prob. 15MCQCh. 4 - Prob. 16CECh. 4 - Prob. 17CECh. 4 - Cornerstone Exercise 4-18 Adjusting Entry from...Ch. 4 - Prob. 19CECh. 4 - Prob. 20CECh. 4 - Cornerstone Exercise 4-21 Cash Over and Short On a...Ch. 4 - Cornerstone Exercise 4-22 Cash Over and Short...Ch. 4 - Prob. 23CECh. 4 - Prob. 24CECh. 4 - Prob. 25BECh. 4 - Prob. 26BECh. 4 - Prob. 27BECh. 4 - Prob. 28BECh. 4 - Prob. 29BECh. 4 - Prob. 30BECh. 4 - Prob. 31BECh. 4 - Prob. 32BECh. 4 - Prob. 33BECh. 4 - Prob. 34BECh. 4 - Prob. 35BECh. 4 - Prob. 36BECh. 4 - Prob. 37BECh. 4 - Prob. 38BECh. 4 - Prob. 39ECh. 4 - Prob. 40ECh. 4 - Prob. 41ECh. 4 - Prob. 42ECh. 4 - Miller Enterprises deposits the cash received...Ch. 4 - Prob. 44ECh. 4 - Prob. 45ECh. 4 - Prob. 46ECh. 4 - Prob. 47ECh. 4 - Hawk Enterprises identified the following items on...Ch. 4 - Prob. 49ECh. 4 - Prob. 50ECh. 4 - Prob. 51ECh. 4 - Prob. 52ECh. 4 - Prob. 53ECh. 4 - Exercise 4-54 Operating Cycle and Current...Ch. 4 - Prob. 55APSACh. 4 - Prob. 56APSACh. 4 - Prob. 57APSACh. 4 - Prob. 58APSACh. 4 - Prob. 59APSACh. 4 - Prob. 60APSACh. 4 - Prob. 61APSACh. 4 - Prob. 55BPSBCh. 4 - Prob. 56BPSBCh. 4 - Prob. 57BPSBCh. 4 - Prob. 58BPSBCh. 4 - Prob. 59BPSBCh. 4 - Prob. 60BPSBCh. 4 - Prob. 61BPSBCh. 4 - Prob. 62.1CCh. 4 - Prob. 62.2CCh. 4 - Prob. 62.3CCh. 4 - Prob. 62.4CCh. 4 - Prob. 63.1CCh. 4 - Prob. 63.2CCh. 4 - Prob. 64.1CCh. 4 - Prob. 64.2CCh. 4 - Prob. 65CCh. 4 - Prob. 66.1CCh. 4 - Prob. 66.2CCh. 4 - Prob. 67.1CCh. 4 - Prob. 67.2CCh. 4 - Prob. 68.1CCh. 4 - Prob. 68.2CCh. 4 - Prob. 68.3CCh. 4 - Prob. 68.4CCh. 4 - Prob. 69.1CCh. 4 - Prob. 69.2CCh. 4 - Prob. 69.3CCh. 4 - Prob. 69.4CCh. 4 - Case 4-70 CONTINUING PROBLEM: FRONT ROW...Ch. 4 - Prob. 70.2CCh. 4 - Prob. 70.3CCh. 4 - Prob. 70.4C
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Similar questions
- Examine the last column in Table 8.2 (p. 280) for the following personnel only: access control officer, chief information officer (CIO), structural security/disaster recovery manager, testing/quality assurance, and database administrator. For each of the five functions, list one control plan from this chapter that would address the control concern described in the last column of Table 8.2 (p. 280) for that function. Explain how the plan might address the concern mentioned. Do not use the same plan twice; use five different plans.arrow_forward49 A review of how an organization’s management and its operating procedures are functioning with respect to their effectiveness and efficiency in meeting stated objectives. Group of answer choices Cash Audit Internal Audit Operational Audit External Auditarrow_forward14. Opinions on the effectiveness of the internal control system and the fairness of the amounts reported in the financial statements are defined as: Select one: a. Management Assessments b. Assurance Opinions. c. Notes to the Financial Statements d. Management Discussion and Analysis.arrow_forward
- Instruction: Briefly answer the following questions: 4-5 SENTENCES ONLY EVERY question 1 .An important element of the control environment is the organization’s commitment to ethics and integrity. How might an internal auditor assess the organization’s commitment to ethics and integrity? 2. How might management and internal auditors assess each one of the following? The independence and competence of the board of directors The competence of accounting personnel Whether company employees are adhering to the company’s code of conduct 3.What is monitoring? Identify the two major types of monitoring and explain how they could be used by management. I.Ongoing Evaluation II.Separate Evaluations PLEASE NO PLAGIARISM. I WILL GIVE UPVOTES AND COMMENTS. THANKS!arrow_forward19 Item 19 Item 19 Which of the following standard-setting bodies requires a management’s discussion and analysis as a part of the financial report? Multiple Choice GASB. FASB. FASAB. Both GASB and FASAB. 20 Item 20 Item 20 On what do the government-wide financial statements report? Multiple Choice Operational accountability. Fiscal accountability. The cost of government services. Budgetary compliance.arrow_forward21-36 AT-C Section 315. "Compliance Attestation." allows a practitioner to perform agreed-upon procedures to assist users in evaluating management's written asser- tions about (1) the entity's compliance with specified requirements. (2) the effective- ness of the entity's internal control over compliance, or (3) both. Required: a. Read AT-C Section 315 and then discuss how a practitioner would conduct an agreed-upon procedures engagement to evaluate an entity's written assertion that it was in compliancearrow_forward
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