Auditing standards define internal controls over financial statements as processes designed by management and others charged with governance to provide reasonable assurance that companys responsibilities in three areas are met. Which of the following is not an internal control concern?

a. The reliability of financial reporting

b. The effectiveness and efficiency of operations

c. Compliance with laws and regulations

d. Hiring procedures ensure that the company hires the most qualified employees

Which of the following is not an internal control?

a. Segregation of duties

b. Procedures to authorize transactions

c. Requirements for documentation

d. Compliance with Federal guidelines

e. Physical controls over assets

f. Independent reconciliations

Which of the following assertion is not for presentation and disclosure?

a. Occurrence and rights and obligations

b. Completeness

c. Classification and Understandability

d. Cutoff

Sufficient appropriate evidence consists of the following except:

a. Substantive evidence

b. Internal control evidence

c. Analytical procedure evidence

d. Rights and obligations evidence