Which of the Following Statements Relating to Identifying Strengths and Weaknesses

question 122

Multiple Choice

Which of the following statements relating to identifying strengths and weaknesses in a system of internal controls are true? (choose two options)

• A)If the auditor identifies internal control weaknesses, the risk of material misstatements being undetected by management's processes and controls increases.
• B)The auditor typically performs additional substantive testing in the areas of internal control weakness in order to identify and quantify potential material misstatement.
• C)There is no link between weaknesses in internal controls (that is, observations that controls being tested did not operate as intended) and the level of substantive procedures required.
• D)When the auditor identifies internal control weaknesses, the auditor will consider a lower assessed level of control risk approach for assertions influenced by these weaknesses.

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Definitions:

Gender

A social construct related to the roles, behaviors, activities, and attributes that a given society considers appropriate for men, women, and non-binary people.

Identity Development

The process through which individuals form their unique sense of identity, encompassing personal, social, and cultural dimensions.

Masturbation

The self-stimulation of one's own genitals for sexual pleasure, which may or may not lead to orgasm.

Teenage Pregnancy

A term describing pregnancies occurring in girls aged 13-19, often associated with social, economic, and health challenges.