Prior to SOX, external auditors were required to be familiar with the client organization's internal controls, but not test them. Explain
Auditors had the option of not relying on internal controls in the conduct of an audit and therefore did not need to test them. Instead auditors could focus primarily of substantive tests. Under SOX, management is required to make specific assertions regarding the effectiveness of internal controls. To attest to the validity of these assertions, auditors are required to test the controls.
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Which of the following is not one of the steps in a three-step test for attempted monopolization under the Sherman Act?
A. The entity had a demonstrable and specific intent to achieve a monopoly. B. The entity formed an agreement with others to achieve a monopoly. C. There must exist a dangerous probability that monopoly power would in fact be achieved. D. The entity acted in an anticompetitive manner designed to injure its competitors.
It is acceptable for arrows to cross one another in a network diagram.
Answer the following statement true (T) or false (F)
The server is ____ four water glasses in the corner booth for us
A) setting B) sitting
An airline company tracks the number of lost bags that occur each day. This is best monitored by which of the following control charts?
A) x-bar chart B) R-chart C) p-chart D) c-chart E) None of the above