Lisa (1) - Week 3 Quiz 100 Lisa Ybarra 1 Internal control is a process effected by an entity's board of directors management and other personnel that is

Lisa (1) - Week 3 Quiz 100 Lisa Ybarra 1 Internal control...

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Week 3 Quiz100%Lisa Ybarra1.Internal control is a process effected by an entity's board of directors, management, and other personnel that is designed to provide reasonable assurance regarding the achievement of objectives.(True/False) (10%)True2. What are the two main objectives for conducting preliminary analytical procedures? (30%)Enhance the auditor’s understanding of the business and identify areas that have a greater risk of misstatement3. List the two types of audit tests. (30%)Analytical procedures and substantive tests4. List three factors that affect an organization's control environment. (30%)Integrity and ethical values, commitment to competence, organizational structure10/10 = 100%Week 3 Multiple Choice REQUIRED:Indicate the best answer choice for each of the following.1.Materiality underlies the application of generally accepted auditing standards, particularly the:a.general and field work standards.b.general and reporting standards.c.field work and reporting standards.d.reporting standards.e.general standards.
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  • Spring '09
  • ROSALES
  • materiality

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