Auditors Typically Rely on Internal Controls of Their Private Company

question 67

Multiple Choice

Auditors typically rely on internal controls of their private company clients:

• A)only as needed to complete the audit and satisfy Sarbanes-Oxley requirements.
• B)only if the controls are determined to be effective.
• C)only if the client asks an auditor to test controls.
• D)only if the controls are sufficient to increase Control Risk to an acceptable level.

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Definitions:

Salaries

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Range

The difference between the highest and lowest values in a data set.

Histogram

An illustration showing the frequency of occurrence of different data ranges in a dataset, typically portrayed through the use of bars.

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