In an Audit Report on the Effectiveness of ICFR for a Public

question 34

Multiple Choice

In an audit report on the effectiveness of ICFR for a public company, which paragraph cautions not to use the current year opinion to assume that future internal controls will be effective?

• A)definition and inherent limitations paragraph
• B)scope paragraph
• C)opinion paragraph
• D)paragraph referencing the financial statement audit

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Definitions:

Prefrontal

Pertaining to the prefrontal cortex of the brain, involved in complex behaviours including decision making and planning.

Co-sleeping

The practice of sleeping in close proximity to one's child, often in the same bed.

Habituation

The process by which an organism becomes accustomed to a stimulus after repeated exposures, leading to a decrease in response.

Classical Conditioning

A form of learning in which an environmental stimulus becomes associated with stimuli that elicit reflex responses.