Quiz 10 - Introduction to audit Quiz # 10 Group Date Name...

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Introduction to audit Quiz # 10 Group Date Name Which of the following parties is responsible for establishing an entity’s internal controls? a. Management. c. Auditors. b. Management and auditors. d. Committee of Sponsoring Organizations. Which of the following is not one of the three primary objectives of effective internal control? a. Reliability of financial reporting b. Efficiency and effectiveness of operations c. Compliance with laws and regulations d. Each of the above is a primary objective of effective internal control. The PCAOB states that reasonable assurance allows for a. a nominal likelihood of ineffective internal controls. b. a remote likelihood that material misstatements will not be prevented or detected by internal control. c. a likelihood that material misstatements will not be prevented or detected by internal control. d. a high likelihood that material misstatements will not be prevented or detected by internal control. With which aspect of internal control are auditors primarily concerned?
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Quiz 10 - Introduction to audit Quiz # 10 Group Date Name...

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