Multiple Choice
Which of the following is an inherent limitation of internal control?
A) Collusion by two or more individuals to circumvent a control
B) A control within a software program being overridden or disabled
C) Human error that results in a breakdown in internal control
D) All of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q2: When internal controls are effective:<br>A)the organisation is
Q3: In larger entities,there are often limitations surrounding
Q4: For identified risks,management:<br>A)estimates their significance<br>B)assesses the likelihood
Q5: An internal control exception is:<br>A)only expected to
Q6: Which of the following statements about internal
Q8: Control risk refers to the risk that
Q9: For purchasing inventory transactions,an example of a
Q10: Which of the following is not an
Q11: ASA260 Communication of Audit Matters with Those
Q12: The concept that no one employee should