For a Practitioner to Examine Management's Assertions About the Effectiveness

question 94

Multiple Choice

For a practitioner to examine management's assertions about the effectiveness of internal controls,all of the following conditions are necessary except:

• A) Sufficient competent evidence can be developed to support the evaluation.
• B) The practitioner must have already concluded that the financial statements are fairly presented in accordance with the applicable accounting framework.
• C) The entity's management accepts responsibility for the effectiveness of its internal control.
• D) All of the conditions listed are necessary.

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Definitions:

Ego Control

The ability to regulate impulses, emotions, and desires in accordance with one's personal needs and societal norms.

Jack Block

A psychologist known for his contributions to personality theory and the development of the Q-sort method.

Discontented

A feeling of dissatisfaction or unhappiness with one's circumstances or condition.

Economic and Political

Pertaining to the systems or activities associated with the governance and distribution of resources within a society.