Exam 10: Internal Control, Control Risk, and Section 404 Audits
Exam 1: The Demand for Audit and Other Assurance Services47 Questions
Exam 2: The Cpa Profession79 Questions
Exam 3: Audit Reports140 Questions
Exam 4: Professional Ethics119 Questions
Exam 5: Legal Liability115 Questions
Exam 6: Audit Responsibilities and Objectives132 Questions
Exam 7: Audit Evidence105 Questions
Exam 8: Audit Planning and Analytical Procedures102 Questions
Exam 9: Materiality and Risk113 Questions
Exam 10: Internal Control, Control Risk, and Section 404 Audits116 Questions
Exam 11: Fraud Auditing93 Questions
Exam 12: The Impact of Information Technology on the Audit Process106 Questions
Exam 13: Overall Audit Strategy and Audit Program94 Questions
Exam 14: Audit of the Sales and Collection Cycle: Tests of Controls and Substantive Tests of Transactions109 Questions
Exam 15: Audit Sampling for Tests of Controls and Substantive Tests of Transactions119 Questions
Exam 16: Completing the Tests in the Sales and Collection Cycle: Accounts Receivable101 Questions
Exam 17: Audit Sampling for Tests of Details of Balances114 Questions
Exam 18: Audit of the Acquisition and Payment Cycle: Tests of Controls, Substantive Tests of Transactions, and Accounts Payable116 Questions
Exam 19: Completing the Tests in the Acquisition and Payment Cycle: Verification of Selected Accounts101 Questions
Exam 20: Audit of the Payroll and Personnel Cycle113 Questions
Exam 21: Audit of the Inventory and Warehousing Cycle116 Questions
Exam 22: Audit of the Capital Acquisition and Repayment Cycle91 Questions
Exam 23: Audit of Cash and Financial Instruments121 Questions
Exam 24: Completing the Audit120 Questions
Exam 25: Other Assurance Services104 Questions
Exam 26: Internal and Governmental Financial Auditing and Operational Auditing73 Questions
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Define the following terms: control deficiency, significant deficiency, and material weakness.
(Essay)
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Section 404 of the Sarbanes-Oxley Act requires that public companies issue an internal control report.
(True/False)
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In evaluating the operational effectiveness of internal controls the auditor is likely to use four types of audit procedures.List the procedures below.
(Essay)
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Control activities help assure that the necessary actions are taken to address risks to the achievement of the company's objectives.List the five types of control activities.
(Essay)
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Once auditors determine that entity level controls are designed and placed in the operation they:
(Multiple Choice)
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Before making the final assessment of internal control at the end of an integrated audit, the auditor must:
(Multiple Choice)
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Which of the following statements is most correct with respect to separation of duties?
(Multiple Choice)
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Which of management's assertions with respect to implementing internal controls is the auditor primarily concerned?
(Multiple Choice)
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The text suggested a five-step approach to identify deficiencies, significant deficiencies, and material weaknesses.Describe this approach.
(Essay)
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A control available in a small company, which may be necessitated because of lack of competent personnel, is:
(Multiple Choice)
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To issue an unqualified opinion on internal control over financial reporting, there must be no identified material weaknesses and no restrictions on the scope of the audit.
(True/False)
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The assessment of control risk is the measure of the auditor's expectation that internal controls will prevent material misstatements from occurring or detect and correct them if they have occurred.
(True/False)
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Which of the following is the correct definition of "control deficiency"?
(Multiple Choice)
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