Question 72 An auditor cannot assess the control risk for subsystems at a different level than the whole accounting system. True O False Question 80 The external audit function is a critical component of a company's internal control process. True False S Question 86 1.07 points A component of COSO's internal control system concerns the process of identifying, capturing, and exchanging information in a timely fashion to enable accomplishment of the organization's objective. This component is called: Control activities a. Information and communication b Monitoring TOC. Control environment O d. Question 89 Safeguarding of assets includes controls designed to protect against theft. True False Question 93 The quality of an organization's internal controls affects an audit in all of the following ways EXCEPT which one of the following? Poor internal control may contribute to the auditor's assessment regarding the company's inability to remain a going concern O a. There is a requirement of internal control at some level in order for a company to be audited b The quality of internal control significantly affects the amount and type of audit work performed O C. The auditor is not required to understand internal control if it is poor or non-existent