In Evaluating Internal Control, the Auditor Is Basically Concerned That

question 74

Multiple Choice

In evaluating internal control, the auditor is basically concerned that the system provides reasonable assurance that:

• A)operational efficiency has been achieved in accordance with management plans.
• B)material misstatements have been prevented, or detected and corrected.
• C)controls have not been circumvented by collusion.
• D)management cannot override the system.

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Definitions:

Individualism

Putting personal goals ahead of group goals and defining one’s identity in terms of personal attributes rather than group memberships.

Graduate School

Graduate school is an advanced program of study focused on a particular academic discipline or profession, typically following the completion of an undergraduate degree.

Individualistic Culture

describes a society that values individual rights and independence, emphasizing personal achievements and self-reliance over collective goals.

Collectivistic Culture

Cultures that prioritize the needs and goals of the group over the individual, emphasizing social harmony and interdependence.