A)The First Step in the Auditor's Study and Evaluation of Internal

question 15

Essay

A)The first step in the auditor's study and evaluation of internal control is to obtain an understanding of internal control for audit planning purposes.List the remaining steps.B)Which two assessments must be made prior to testing controls? C)Describe five common procedures an auditor can use to obtain an understanding of internal control design.

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Definitions:

Planetary Gearsets

A system of gears consisting of one or more outer gears (planet gears) revolving around a central (sun) gear, used in automatic transmissions.

Minimum Number

The smallest quantity or value in a set or required to accomplish a certain task.

Source Address

In networking, it refers to the original sender's address in a packet of data, used for response or routing purposes.