Which of the Following Are Suitable Criteria for Providing Assurance

question 13

Multiple Choice

Which of the following are suitable criteria for providing assurance on a report of the effectiveness of internal controls?

• A)Australian Accounting Standards.
• B)AUS 810 'Special Purpose Reports on the Effectiveness of Control Procedures'.
• C)ASAE/ISAE 3000 'Assurance Engagements other than Reports or Reviews of Historical Financial Information'.
• D)The revised COSO framework.

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Definitions:

Ability-to-pay Principle

A tax principle that suggests taxes should be levied according to an individual or entity's capacity to pay, reflecting their income or wealth.

Transfer Payments

Payments made by governments to individuals or other entities without the expectation of a direct return or the provision of goods or services, such as social security benefits or subsidies.

Income Distribution

The way in which a nation's total GDP is distributed amongst its population.

Quintiles

Statistical values that divide a set of data into five equal parts, often used in economic and social research to analyze distribution.