Tutorial_4 - Tutorial 4 A: Multiple Choice questions 1. In...

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Tutorial 4 A: Multiple Choice questions 1. In general, a significant internal control weakness may be defined as a condition under which material misstatements would ordinarily nit be detected within a timely period by: (a) an auditor during the typical obtaining of an understanding of internal control and assessment of control risk (b) a financial controller when reconciling accounts in the general ledger (c) employees in the normal course of performing their assigned functions (d) the chief financial officer when reviewing interim financial statements 2. Which of the following statements with respect to required auditor communication of significant deficiencies in internal controls is correct? (a) such communication is required to be in writing (b) such communication must include a description of all weaknesses (c) such communication is t he principal reason for testing and evaluating internal controls (d) such communication is incidental to the auditor’s understanding of internal control and assessment of control risk 3. The auditor who becomes aware of a reportable condition is required to
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This note was uploaded on 07/31/2011 for the course MGMT 2027 taught by Professor Shak during the Three '07 term at Queensland.

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Tutorial_4 - Tutorial 4 A: Multiple Choice questions 1. In...

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