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Chapter 6 part 1 - Physical security Internal control ain a...

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New audit reporting requirements of CPA firm Inclusion of managements assessment Audit committees Must include at least one “financial expert.” Affective seg duty of is from … standpoint Permitting programmers to test programs using only fictitious data New rule for auditors Lead audit partners every 5 years Type of internal control activity are bank statements
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Unformatted text preview: Physical security Internal control ain a way to provide reasonable assurance… Preventing fraudulent acts Effective seg of duties … A, handling cash Independent check on performance Counting inventory (correct) Risk that exists before mgt. takes any steps Risk assessment...
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