Question: When tests internal controls do not support a previous conclusion about internal controls, the auditor should reassess internal controls at a higher level consider withdrawing

When tests internal controls do not support a previous conclusion about

When tests internal controls do not support a previous conclusion about internal controls, the auditor should reassess internal controls at a higher level consider withdrawing from the engagement lower inherent risk related to internal control obtain assurances about internal control from senior management

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

1) The concept of testing at an interim date relates to _______. a) testing at year-end. b) testing at a point before year-end. c) testing after year-end. d) None of these answer choices is correct....

When tests internal controls do not support a previous conclusion about internal controls, the auditor should _______. a)lower inherent risk related to internal control b)consider withdrawing from...

MULTIPLE CHOICE QUESTIONS 1. Which of the following statements does not properly describe an element of the theoretical framework of auditing? a. An audit benefits to public. b. Auditors act on...

ten MCQ 1.The reason an auditor will contact a predecessor at the client acceptance phase of the audit is: A. To gain any understanding of any problems in the client's internal controls. B. To...

HELP ME WITH RISK ASSESSMENT,analysis company: GOOGLE INC. UNDERSTANDING THE ENTITY AND ITS ENVIRONMENT: COMPLEX ENTITIES PURPOSE This form has been designed to assist the auditor in: Gathering audit...

Multiple Choice: 1. Before accepting an audit engagement, a successor auditor should make specific inquiries of the predecessor auditor regarding the predecessors a. Awareness of the consistency in...

The reason an auditor will contact a predecessor at the client acceptance phase of the audit is: A. To gain any understanding of any problems in the clients internal controls. B. To understand the...

1-When using the test data approach, Select one: a. the test data must remain in the client's records. b. auditors often obtain assistance from a computer audit specialist. c. auditors process test...

Hi can u pls help me to find out the auditing MCQ questions answer .I attach a file.please.My email id is (ruhin_1986@yahoo.com) 1 Marks: 1 When an auditor calculates the gross margin as a percent of...

"PCAOB Inspection Reports for KPMG" is an excellent topic. Summarize 3 reports - 2010, 2012 & 2014.At least 6 references are needed - 3 academic & 3 practitioner (short articles).Please follow the...

Give strengths and weaknesses in this case. In the 1970s, futurists were predicting that increases in technology would dramatically shorten the workweek for most people. But in the wired work world...

This question asks to develop three mini-essays on pricing and hedging in fixed income markets. (i) (10 points) Describe how duration-hedging works in the context of asset-liability management. (ii)...

Zepol Company is planning to produce 600,000 power drills for the coming year. The company uses direct labor hours to assign overhead to products. Each drill requires 0.75 standard hours of labor for...

The timestamp inject in Node - red is an example of a ( n ) _ _ _ _ _ _ _ construct