ACCT 275 CH 10,11 - Rosmic Calvo Acct 275 CH 10...

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Unformatted text preview: Rosmic Calvo Acct 275 CH 10 & 11 HW 10-30 a) 3 b) 3 c) 4 d) 4 10-31 a) 3 b) 2 c) 4 d) 2 10-32 a) 3 b) 4 c) 4 d) 2 11-20 a) 3 b) 4 c) 1 d) 2 11-21 a) 1 b) 4 11-22 a) 1 b) 1 c) 1 10-36 a) The auditor must understand the components of internal control in order to assess control risk during the planning phase of the audit, which will help determine the extent of evidence that he would need to gather. b) It is required that an auditor gain an understanding of the controls and to test controls in order to gain evidence of operating effectiveness. c) When seeking a further reduction in the assessed level of control risk, the auditor needs to consider whether the controls will most likely be effective enough to support the reduced assessed level of control risk and whether performing additional tests of controls to support the reduced control risk assessment would be cost-beneficial. d) The auditor must document his understanding of the entitys internal control, which includes the results of the tests of controls and the assessed level of control risk.includes the results of the tests of controls and the assessed level of control risk....
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ACCT 275 CH 10,11 - Rosmic Calvo Acct 275 CH 10...

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