Chapter 5 Homework
RC 1,4,5,8,10,13,20,21,23, 26,32
5.1 What are the three goals of an internal control system according to the COSO Report?
Which of the three is most important to auditors?
Internal control is a process, effected by an entitys
Chapter 1 Homework
1.2 What conditions increase the demand for reliable information?
1.3 What risk creates a demand for independent and objective
Chapter 2 Homework
RC 1,5,8,9,11,12,15,17, 20,21,22,25
2.1 Define generally accepted auditing standards (GAAS). Who is responsible for developing
standards for the audits of public entities? Who is responsible for developing standards for
Chapter 4 Homework
4.1 What is business risk?
Risks that could adversely affect companies ability to achieve objectives and executestrategies
are called business risks.
4.5 What types of conditions provide opportunities for
below are independent
would issue ernd List Brepresents
Chapter 3 Homework
3.2 Why do predecessor auditors need to obtain the clients consent to give information to
prospective auditors? What information should prospective auditors try to obtain from
Chapter B Module
a. Public Accounting SEC, PCAOB,
Chapter 2 continued
a. Understanding entity and environment need to understand an environment in order to
effectively plan and supervise and review materials
b. Financial statements in accordance with GAAP disclose in opinion
c. Planning and Supervis
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STUDY TUTORS TEST
Chapter 4, Problem 59EP