Which of the Following Is Not a Relevant Aspect of Internal

question 51

Multiple Choice

Which of the following is not a relevant aspect of internal controls over estimates?

• A)External auditor involvement in developing assumptions
• B)Adequate review by appropriate levels of authority
• C)Comparison of prior estimates with subsequent results
• D)All the above are relevant aspects of internal controls over estimates.

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Definitions:

Corporate Liability

The legal concept that a corporation can be held responsible for the actions of its employees or agents, subject to laws and regulations governing corporate conduct.

Search Warrant

An official court order authorizing law enforcement agencies to conduct a search of a place and seize evidence.

Fourth Amendment

Part of the United States Constitution that protects individuals against unreasonable searches and seizures by the government, requiring warrants to be judicially sanctioned and supported by probable cause.

Fifth Amendment

A provision in the U.S. Constitution that protects against self-incrimination, ensures due process, and prohibits double jeopardy and eminent domain without just compensation.