SAS 109 requires auditors obtain an understanding of an organization's control environment. Discuss two techniques that may be used to obtain such understanding
Auditors should assess the integrity of management and may use investigative agencies to report on the background of key managers.
Auditors should be aware of conditions that would predispose management fraud such as lack of sufficient working capital, adverse industry conditions, bad credit ratings, or restrictive bank or indenture agreements.
Auditors should understand a client's business and industry and be aware of conditions peculiar to the industry that may affect the audit.
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Perceived quality is ______.
A. the customer’s view of quality B. the tangible characteristics of a product C. the quality actually received by the consumer D. the price paid by the consumer
The principal drawback of 3DES is that the algorithm is relatively sluggish in software.
Indicate whether the statement is true or false.
Taylor is an outside salesperson for a firm in Idaho. She earns a 10% commission on all sales she makes. During a one-week pay period, she made $2,750 in sales. What is her gross pay? How much does her employer need to contribute toward her pay to meet FLSA standards?
A) $275; $0 B) $250; $205 C) $455; $0 D) $275; $180
Contributions to FSAs in excess of what annual amount are treated as taxable income?
A) $1,600 B) $1,900 C) $2,300 D) $2,600