Evaluating Internal Controls at Third-Party Service Providers, Such as Cloud

question 46

True/False

Evaluating internal controls at third-party service providers, such as cloud computing suppliers, is not an attestation type of service which a CPA is allowed to perform today.

---

Definitions:

Premium

An amount paid in addition to the standard or nominal cost, often associated with insurance, bonds, or the difference above a product's nominal value.

Spot Rate

The current market price at which a particular asset, such as currency, commodity, or security can be bought or sold for immediate delivery.

Direct Quote

A currency exchange rate quoted as the domestic currency per unit of the foreign currency.

Exchange Rate Risk

The potential for investors or companies to experience financial loss due to fluctuations in the exchange rate between two currencies.