An auditor assesses an entitys business risks by a reperforming the control b

An auditor assesses an entitys business risks by a

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6.An auditor assesses an entity’s business risks by a.reperforming the controlb.writing proposal documentsc.reviewing a competitor’s statement of changesd.observing the application of the controlSection Two: Consider Internal Control in Both Manual and Computerized Environments (11–18%)Topic: Materiality, Audit Risk, and EvidenceObjective: Explain the application of materiality, audit risk, and evidence to an audit. 7.Generally accepted auditing standards recognize two categories of evidential matter: underlying accounting data and corroborating information. In making an audit in accordance with generally accepted auditing standards, Topic: Audit Planning and Internal ControlsObjective: Assess control risk.8.Which of the following activities would be most effective in testing controls designed to prevent checks from being issued or recorded for the wrong amount?
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Final Examination Study GuideACC/497 Version 7 19 Topic: Audit Planning and Internal ControlsObjective: Analyze tests of controls. 9.Which of the following special consideration of risks that may arise from changed circumstances should be included in management’s risk assessment? Section Three: Obtain and Document Information to Form a Basis for Conclusions (32–38%)Topic: Audit Planning and Internal ControlsObjective: Use the auditing analytical procedures. 10.Professional standards recognize that a misstatement that is quantitatively immaterial may be qualitatively material. In regards to these items, professional standards require the auditor to a.be alert for themb.plan the audit to search for themc.design explicit procedures to detect themd. report them to the audit committee
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  • Fall '09
  • JONES
  • Balance Sheet, Securities and Exchange Commission, Examination Study Guide, Final Examination Study

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