At the End of Internal Control Testing,the Auditor May Conclude

question 61

Multiple Choice

At the end of internal control testing,the auditor may conclude that

• A)internal controls are effective in preventing or detecting misstatements for the assertion tested for the significant accounts in the business process at the assessed level of control risk specified by the auditor
• B)internal controls are not effective
• C)internal controls are effective
• D)internal controls are effective in preventing or detecting misstatements for the assertion tested
• E)internal controls are effective in preventing or detecting misstatements for the assertion tested for the significant accounts in the business process
• F)both A and B
• G)both C and D

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Definitions:

Utilization

The ratio of the time that a resource is actually used to the time it is available for use, often measured to assess efficiency in operations.

μ

A symbol often used to represent the mean or average value of a set of numbers in statistics.

Average Waiting Time

The average time that a customer or item spends waiting in a queue before being served.