Indicate Whether You Agree or Disagree with the Following Statements

question 26

Essay

Indicate whether you agree or disagree with the following statements and explain your reasoning.
a) During her career as a public accountant, Carolina Doukas has performed audits of large and medium sized clients. When she visited a small business client, a food wholesaler that has had a history of poor controls, she gave a lot of thought to performing her planned audit approach. She decided to use the combined audit approach.
b) Tanya Konczynski was discussing with her audit manager how she could assess whether controls are being monitored. Her audit manager mentioned that the internal audit function is a primary source of assessing and monitoring control activities.
c) The audit senior has been reviewing the key controls in the purchasing and payables process. She has been asked by a junior auditor: "When should the client set up the payable?" She answers: "The company can set up the payable when the goods are received in good order, and then the client can make the payment when the invoice is received."
d) The auditor decided to review transaction-level controls at year-end.

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Definitions:

Indifference

A lack of concern, interest, or sympathy towards others or a particular issue.

Openness

A personality trait or quality characterized by transparency, willingness to experience new things, and candid communication.

Use Of Force

The application of physical power or legal authority to control, restrain, or protect someone or something.

Policing Policies

Strategies and procedures established by law enforcement agencies to maintain public order and safety.