Multiple Choice
Control risk is a measure of the auditor's expectation that the internal controls will:
A) detect and correct material misstatements.
B) either prevent material misstatements or detect and correct them.
C) prevent material misstatements from occurring.
D) neither prevent material misstatements nor detect and correct them.
Correct Answer:
Verified
Correct Answer:
Verified
Q50: Why do the procedures used to gain
Q51: When a company designs and implements an
Q52: When two or more employees act together
Q53: The procedures to test effectiveness of control
Q54: The primary emphasis by auditors is on
Q56: The study of the client's internal control
Q57: A well-designed system of management risk assessment
Q58: Because the auditor's main responsibility is to
Q59: Describe three inherent limitations of internal control.
Q60: Most audits of a company are done