When Internal Controls Over a Given Financial Statement Account Are

question 35

True/False

When internal controls over a given financial statement account are assessed as highly effective, the auditor need not obtain audit evidence for that account beyond testing the controls.

---

Definitions:

Cultural Influences

The impact of shared beliefs, values, customs, and behaviors of a society or community on an individual's thoughts, feelings, and actions.

Conciliatory

Showing willingness to reconcile or make concessions to reach a peaceful resolution.

Aggression

Behavior aimed at causing harm or pain to others, which can be physical or verbal.

Sympathetic Arousal

Activation of the sympathetic nervous system, leading to physiological changes such as increased heart rate and blood pressure, often in response to stress or threat.