Which of the Following Is Not Part of Obtaining an Understanding

question 56

Multiple Choice

Which of the following is not part of obtaining an understanding of internal control?

• A) Considering the types of misstatements that may occur in an entity's financial statements.
• B) Determining whether internal controls are operating effectively.
• C) Considering knowledge obtained from previous audits.
• D) Determining the extent to which internal controls are computerized.

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Definitions:

Executing A Plan

The process of putting a strategic plan into action to achieve the desired goals or objectives.

Performance Outcomes

The results or outputs stemming from an individual's or organization's actions or performance.

Skills Model

A framework that identifies the set of skills, competencies, and personal attributes necessary for successful leadership.

Leader's Experiences

This term focuses on the accumulated knowledge, challenges, and learning opportunities that individuals encounter in leadership positions.