Multiple Choice
The CPA Canada Handbook section "CAS 265: Communicating Deficiencies in Internal Control to Those Charged with Governance and Management" requires that ________.
A) all misstatements are communicated to management in writing
B) all significant control deficiencies and other deficiencies the auditor deems of sufficient importance,should be communicated to management
C) only serious control risks uncovered are communicated to management in writing
D) only frauds and illegal acts are communicated to management
Correct Answer:
Verified
Correct Answer:
Verified
Q12: Internal controls are put in place to
Q13: The most important aspect of a control
Q14: The primary reason to evaluate internal controls
Q15: Monthly comparison of the accounts receivable control
Q16: A duel-purpose test provides both control effectiveness
Q18: The internal control objective of accuracy is
Q19: General controls,like environmental controls,are primarily preventive in
Q20: Control weaknesses may be so serious that
Q21: An inherent weakness of all internal controls
Q22: An auditor should always check late entries