If the Auditor Is Unable to Determine the Effect of a Subsequent

question 85

True/False

If the auditor is unable to determine the effect of a subsequent event on the effectiveness of internal control at year-end, the auditor must give an adverse opinion on internal control over financial reporting.

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Definitions:

Trained Employee

An individual who has received instruction and practice in a particular skill or type of behavior for the workplace.

Time Study

An analytical procedure used to determine the standard time required for a skilled worker to perform a given task under specified conditions and at a defined rate of performance.

Sample Size

The number of observations or data points collected in a study or experiment, which can affect the validity and reliability of statistical analysis.

Level Of Confidence

The level of confidence quantifies the degree of certainty or assurance in the results of a statistical analysis, often expressed as a percentage.