16) An auditor should consider two key issues when obtaining an understanding of a client's internal controls. These issues are:A) the effectiveness and efficiency of the controls.B) the frequency and effectiveness of the controls.C) the design and operating effectiveness of the controls.D) the implementation and operating effectiveness of the controls.Answer: C17) Reasonable assurance allows for: 18) To issue a report on internal control over financial reporting for a public company, an auditor must:19) Which of the following activities would be least likely to strengthen a company's internal control?20) Which of the following components of the control environment define the existing lines of responsibility and authority?A) Organizational structureB) Management philosophy and operating styleC) Human resource policies and practices
D) Management integrity and ethical valuesAnswer: A21) Which of the following statements is most correct with respect to separation of duties?
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- Spring '10
- Auditing, Vize Sonrası, After Midterm