As Part of Assessing the Risk of Material Misstatement,the Audit

question 10

Multiple Choice

As part of assessing the risk of material misstatement,the audit team must assess the control risk in the computerized processing system.Initially,the audit team must identify the overall processing scope of the system(s) ,which would include each of the following considerations except

• A)The types of transactions that are processed through the system.
• B)The specific control procedures that have been implemented by the client to prevent or detect misstatements that could occur based on the audit team's analysis.
• C)The programs and files that are accessed by the system in processing transactions.
• D)The type of output that is created as a result of processing transactions through the system.

Identify the impacts of beginning and ending inventory levels on cost calculations.

Explain the principles of process costing system including the calculation of cost per equivalent unit and the allocation of these costs to units completed and transferred out as well as ending inventory.

Understand the concept of age bias and strategies to mitigate it in the workplace.

Recognize the construction of self-image based on primary and secondary dimensions of diversity.