Refer to Exhibit 9.5 (pg. 325). For each pair of factors, describe why you believe the factor
Question:
Refer to Exhibit 9.5 (pg. 325). For each pair of factors, describe why you believe the factor in the right column provides a higher level of assurance.
That is, why do these factors indicate a stronger control?
Transcribed Image Text:
EXHIBIT 9.5 Level of Assurance Provided by Internal Controls The degree of assurance, the quality, and the effectiveness of internal controls may be based on several factors: Less Assurance Manual control Control is performed by a junior, inexperienced person Detective control Single control Control checks some items (sampling) Control takes place after the event occurs Greater Assurance Automated control Control is performed by an experienced manager Preventive control Multiple, overlapping controls Control checks all items Control takes place as the event occurs
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Certainly Lets explore the factors listed in Exhibit 95 and understand why those in the right column provide a higher level of assurance compared to their counterparts in the left column These factors ...View the full answer
Answered By
Sandhya Sharma
I hold M.Sc and M.Phil degrees in mathematics from CCS University, India and also have a MS degree in information management from Asian institute of technology, Bangkok, Thailand. I have worked at a international school in Bangkok as a IT teacher. Presently, I am working from home as a online Math/Statistics tutor. I have more than 10 years of online tutoring experience. My students have always excelled in their studies.
4.90+
119+ Reviews
214+ Question Solved
Related Book For
Accounting Information Systems
ISBN: 9780538469319
9th Edition
Authors: Pat Wheeler, Ulric J Gelinas, Richard B Dull
Question Posted:
Students also viewed these Business questions
-
What can be used to read commands from the user or from a file of commands and executes them, usually by turning them into one or more system calls. a the gnome b. the fork c. the interpreter d. the...
-
Managing Scope Changes Case Study Scope changes on a project can occur regardless of how well the project is planned or executed. Scope changes can be the result of something that was omitted during...
-
You are given the following information about two stocks: (a) Calculate the mean and standard deviation for each stock. (b) Compare the mean, standard deviation, and coefficient of variation of each...
-
A new highway to Siracha, Thailand, is to be constructed east of Bangkok, across a region of deep deposits of very soft marine clay. A typical soil profile is shown in Fig. 8.21(a). The average Cc =...
-
Six cards are shown below, each with a different algebraic expression. a. Arrange the cards into groups of like terms. b. Simplify each group. c. Write a simplified expression for the sum of all six...
-
Consider the multiple linear regression model \[ y=\beta_{0}+\beta_{1} x_{1}+\beta_{2} x_{2}+\beta_{3} x_{3}+\beta_{4} x_{4}+\varepsilon \] Using the procedure for testing a general linear...
-
Shown below are net income amounts as they would be determined by Weihrich Steel Company by each of three different inventory costing methods ($ in 000s). Required: 1. Assume that Weihrich used FIFO...
-
Work in pairs to create a 2-D or 3-D sample space for outdoor play area based on your observations and identify what materialsareneeded Identify through the PEER approach (plan, engage, explore and...
-
What is the order entry/sales (OE/S) process?
-
Referring to Appendix 9A, distinguish among data encryption, public key cryptography, and digital signatures. Appendix 9A Public Key Cryptography and Digital Signatures As we noted in Chapter 8, a...
-
For a sample of 20 New England cities, a sociologist studies the crime rate in each city (crimes per 100,000 residents) as a function of its poverty rate (in %) and its median income (in $1,000s). A...
-
Pretend you are an analyst who needs to write to your CFO and summarize what's going on. Did J-Pow have something good to say? Bad?! Why was it good or bad? What I'm looking for here is the interest...
-
This week, you will research an article related to discrepancy and the court system, and it will help you prepare for your Week 4 Summative Assessment: Race and Ethnicity in the Courts and...
-
Find and post something useful regarding accounting. Really, anything. Put your topic title in your post header. Summarize the item, enable the reader to learn the value of the item from your...
-
If you pay attention to many of the products and services that you are using, their origin may not be in United States. For instance, the athletic shoes you wear are probably made in China, Vietnam,...
-
Using demand and supply concepts, illustrate how the industry has changed in the past decades. Relate your summary of the bibliography and reliable data and evidence to support your demand and supply...
-
Mr. X is the project manager of a $65 million project of which $1 million is subcontracted out to another company in which Mr. Y is project manager. Unfortunately, Mr. X does not consider Mr. Y as...
-
On October 31 Juanita Ortega, owner of Outback Guide Service, received a bank statement dated October 30. Juanita found the following: 1. The checkbook has a balance of $2,551.34. 2. The bank...
-
Melanie is doing a study on various weight-loss plans and needs to determine an individuals weight status by calculating his body mass index. To calculate a persons body mass index, height must be...
-
Match the flowchart or DFD segments in the right column to an appropriate description in the left column. DFDs 1. Statements are prepared and sent to customers from data contained in the accounts...
-
You are the systems analyst for the Wee Willie Williams Widget Works (also known as Dub 5). Dub 5 has been producing computer keyboard components for more than 20 years and has recently signed an...
-
1) (30 points) For the following Boolean logic algebraic expressions (exor, or +, and.) FO-X (Y.Z) F1=X+(YZ) a) Draw a register transfer level (RTL) Block Diagram for this device
-
In the 1960s, computer use spread to businesses to support operations through data processing, including bookkeeping information, accounting details, payroll sheets and what else?
-
Originally we stored our heap in an array. Consider instead storing our heap as a doubly linked list. (1) (6 points) For a node i what are the new asymptotic run times for left(i), right(i), and...
Study smarter with the SolutionInn App