If the Internal Control Environment Is Strong, the Auditor Need

question 81

True/False

If the internal control environment is strong, the auditor need not search for unrecorded liabilities.

---

Definitions:

Ongoing Activities

Refers to tasks, projects, or operations that are currently in progress or continuously occurring.

Monitoring And Adjusting

The process of tracking progress and making necessary changes to ensure the successful completion of a plan or project.

Concurrent Control

The monitoring and adjusting of activities and processes in real-time to ensure project goals are met.

Low-Probability

Referring to events or outcomes that have a small chance of occurring, often used in risk assessment and decision-making processes.