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.

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Definitions:

Universalize

In ethics, the principle of applying a moral judgment or rule to all similar circumstances without exception.

Morally Permissible

Actions that are considered acceptable within the confines of moral or ethical reasoning, often contextual and variable.

Categorical Imperative

A concept introduced by Immanuel Kant, referring to an unconditional moral principle that applies to all rational beings and dictates an action as necessary without regard for personal desire or consequence.

Absolute Moral Rules

Moral principles that are viewed as universally applicable and unchanging, regardless of context or circumstance.