GAAS Requires the Auditor to Obtain an Understanding of Internal

question 11

True/False

GAAS requires the auditor to obtain an understanding of internal control, however, obtaining an understanding of internal control is not applicable in all attest engagements.

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Definitions:

Unreasonable Public Disclosure

The act of making public private information about an individual in a way that a reasonable person would find objectionable.

Private Facts

Information about a person that is not public knowledge and that the individual has chosen to keep private; disclosure of such information may lead to legal consequences.

Absolute

Unconditional; complete and without restrictions or limitations.

Conditional

Subject to one or more conditions or requirements being met; not absolute.