In Assessing Internal Controls the Auditor Is Suppose to Apply

question 14

Multiple Choice

In assessing internal controls the auditor is suppose to apply the concept of reasonable assurance,which indicates that

• A)there should be a clear separation of duties between personnel who authorize,record,and hold assets.
• B)the costs of a control should not exceed its benefits.
• C)testing of the controls should provide assurance that they work most of the time.
• D)testing of the controls should provide reasonable assurance that they are working properly.

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Definitions:

Functionalism

A theoretical perspective in sociology and anthropology that interprets and describes society as a structure with interrelated parts designed to meet the biological and social needs of the individuals in that society.

Symbolic Interactionism

A sociological theory focusing on the importance of human interaction, symbols, and meanings in the construction of social reality.

Feminism

A movement and ideology that advocates for equal rights for women and challenges gender inequality and societal norms.

Post-Structuralist

Relates to a movement in philosophy and sociology that critiques and goes beyond the frameworks of structuralism, emphasizing ambiguity, subjectivity, and the complexity of meanings.