Multiple Choice
The purpose of tests of controls is to provide reasonable assurance that the
A) accounting treatment of transactions and balances is valid and proper.
B) internal control procedures are functioning as intended.
C) entity has complied with GAAP disclosure requirements.
D) entity has complied with requirements of quality control.
Correct Answer:
Verified
Correct Answer:
Verified
Q29: Analytical procedures are the most expensive type
Q30: The auditor's understanding of internal control performed
Q31: There are three stages of the audit
Q32: Inherent risk can be extended to individual
Q33: If the auditor finds extensive control test
Q35: A medium-sized, nonpublic company has few effective
Q36: Tests of controls provide evidence about the
Q37: Which audit tests involve physical examination and
Q38: What type of test is used to
Q39: An example of auditor using disaggregated data