Multiple Choice
In the audit of financial statements, an auditor's primary consideration regarding an internal control policy or procedure is whether the policy or procedure:
A) reflects management's philosophy and operating style.
B) affects management's financial statement assertions.
C) provides adequate safeguards over access to assets.
D) enhances management's decision-making processes.
Correct Answer:

Verified
Correct Answer:
Verified
Q5: Which of the following is an IT
Q6: While performing an audit on the internal
Q7: After obtaining an understanding of internal controls
Q8: Describe the limitations of internal control. Why
Q9: Audit evidence concerning proper segregation of duties
Q11: A well-prepared flowchart should make it easier
Q12: Why might an auditor decide to test
Q13: A customer intended to order 100 units
Q14: Assessing control risk at a lower level
Q15: What are some typical types of evidence