When Considering a Client's Internal Control,the Auditors Focus on Its

question 41

Essay

When considering a client's internal control,the auditors focus on its various characteristics.For each of the following characteristics indicate the auditors' responsibility under generally accepted auditing standards and the procedures used to meet that responsibility.
a.The design of internal control.
b.Controls have been implemented (placed in operation).
c.The operating effectiveness of controls.

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Definitions:

Sampling Distribution

The distribution of probabilities for a certain statistic, originating from a random sample.

Normal Distribution

In this type of distribution, occurrences of data are more frequent near the mean and decrease in frequency as they move away from the mean, with the distribution being symmetric.

Sampling Distribution

The probability distribution of a statistic based on random samples from a population, used to estimate population parameters.

Standard Deviation

An indicator of the degree to which a dataset's values vary or are dispersed, showing the extent of deviation from the average.