The Effectiveness of General Controls Is an Important Consideration for Audit

question 14

Multiple Choice

The effectiveness of general controls is an important consideration for audit teams when assessing control risk on an audit.Which management assertions are primarily affected by general controls?

• A)Completeness and Accuracy.
• B)Occurrence and Rights and Obligations.
• C)Accuracy and Occurrence.
• D)Completeness and Occurrence.

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Definitions:

Prospective Employee

An individual who is being considered for employment within an organization.

Credit Rating

An assessment of the creditworthiness of a borrower in general terms or with respect to a particular debt or financial obligation.

Police Record

An official record held by police forces detailing an individual's criminal history, if any.

Résumé

A document summarizing an individual's work experience, education, skills, and accomplishments, used for job applications.