The Primary Purpose of the Auditors' Study of Internal Control

question 33

Multiple Choice

The primary purpose of the auditors' study of internal control for a non-issuer is:

• A)to provide constructive suggestions to the client for improving its internal control.
• B)to report on internal control as required by Auditing Standard No. 5.
• C)to identify and detect fraud and irregularities perpetrated by client personnel.
• D)to determine the nature, timing, and extent of further audit procedures.

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Definitions:

Unemployment

The condition where people who are able and willing to work cannot secure jobs despite actively looking for one.

Economists

Specialists in understanding how products and services are made, allocated, and consumed, while investigating economic trends and challenges.

Overall Level

A general term that might refer to the aggregate or total measure of a specified attribute or metric within a given context.

Prices

The monetary estimate expected, deemed necessary, or paid out for something.