If the Evidence About Internal Controls Does Not Support a Previous

question 51

Multiple Choice

If the evidence about internal controls does not support a previous conclusion regarding internal controls, the auditor should _______.

• A)reassess internal controls at a higher level, and reevaluate the implications of a high control risk assessment on detection risk and the auditor's audit strategy
• B)reassess internal controls at a lower level, and reevaluate the implications of a high control risk assessment on detection risk and the auditor's audit strategy
• C)consider the use of specialists to test the client's system of internal control
• D)wait until the end of the audit to perform further testing

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Definitions:

Changing Conditions

Variations or alterations in the environment, circumstances, or requirements that affect a situation or activity.

SWOT Analysis

A strategic planning tool used to identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

Core Competencies

refer to the unique strengths and abilities that a company or individual possesses, which give them a competitive advantage in the market.

Special Strengths

Unique abilities or talents that distinguish an individual or entity from others; often contributing significantly to success.