When Considering Internal Control, an Auditor Should Be Aware of the Concept

question 72

Multiple Choice

When considering internal control, an auditor should be aware of the concept of reasonable assurance, which recognizes that the:

• A) segregation of incompatible functions is necessary to ascertain that internal control is effective.
• B) employment of competent personnel provides assurance that the objectives of internal control will be achieved.
• C) establishment and maintenance of internal control is an important responsibility of the management and not of the auditor.
• D) concept allows for only a remote likelihood that material misstatements will not be prevented or detected on a timely basis.

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Definitions:

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Programming

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The application of game-design elements and principles in non-game contexts to engage and motivate individuals to achieve their goals.

Part-Time Job

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