In which of the following situations will auditors typically rely on internal controls over financial reporting?

a. If control risk is assessed at a high level.
b. If the controls are determined to be designed and operating effectively.
c. If the clients asks the auditor to test controls.
d. If the controls are sufficient to increase control risk to an acceptable level.


b

Business

You might also like to view...

Distribution channels in markets around the world are among the most highly uniform aspects of national marketing systems

Indicate whether the statement is true or false

Business

Critical thinking is most closely related to which challenge/opportunity for organizations?

A. people skills B. innovation and change C. customer service D. workforce diversity

Business

Which of the following two methods are typically used for initial screening of investments, rather than for detailed, in-depth analysis?

A) payback and accounting rate of return B) net present value and payback C) internal rate of return and net present value D) accounting rate of return and net present value

Business

The ________ includes both pensions and support payments for permanently disabled workers who are still too young to retire

a. Employee Retirement Income Security Act b. Worker Adjustment and Retraining Act c. U.S. Social Security system d. Employee Free Choice Act

Business