ASA 315A59 (ISA 315

question 2

Multiple Choice

ASA 315.A59 (ISA 315.A59) includes all of the following as components of internal control except:

• A)risk assessment process.
• B)information system.
• C)legal environment.
• D)control environment.

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Definitions:

Financial Security

The condition of having stable income or resources to support a standard of living now and in the foreseeable future.

Integrity

Refers to the quality of being honest and having strong moral principles.

Assistant

A person who supports others, typically in administrative tasks, to help them be more efficient in their roles.

SEC (Securities and Exchange Commission)

The regulatory authority tasked with overseeing the securities industry, enforcing legal compliance, and protecting investors.