SAS 109 Requires Auditors to Obtain an Understanding of an Organization's

question 33

Essay

SAS 109 requires auditors to obtain an understanding of an organization's control environment.Discuss two techniques that may be used to obtain such understanding.

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Definitions:

DuPont

A multinational corporation known for its development of polymers, chemicals, and agricultural products.

Trustbusters

Individuals or government entities that work to prevent or break up monopolies and trusts, aiming to encourage competition in the marketplace.

Alcoa Case

A landmark antitrust case in the United States that significantly expanded the concept of monopolistic practices and market domination by the Aluminum Company of America.

Sherman Antitrust

A landmark federal statute in the United States that prohibits monopolistic business practices, aiming to promote fair competition for the benefit of consumers.