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Unformatted text preview: d. Auditor unknowingly failed to modify his opinion on financial statements that are materially misstated Independence of an internal auditor is likely to be compromised when he/she reports to: a. Audit committee of the Board b. Principal of the audit firms c. Finance manager of the company d. Board of Directors of the company While reviewing the internal control mechanism of a client, an auditor is mainly concerned with: a. The capability of the mechanism to highlight any variations b. The controls built in the mechanism c. The possibility of any leakage in the mechanism d. Implementation of the control system...
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This note was uploaded on 04/07/2012 for the course BUSINESS 1023 taught by Professor Msaeed during the Spring '12 term at CSU Channel Islands.
- Spring '12