In determining the extent to which the auditor may use the work of others in the audit of ICFR, the auditor should do all of the following except:

A. be ready to document the extent to which he or she relied on the work.
B. evaluate the competence and objectivity of the individuals who performed the work.
C. evaluate the risks associated with the controls subjected to the work of others.
D. All of these are required.


Answer: D

Business

You might also like to view...

The bottom line on the value equation is that you can succeed in a market only if you have perceived value that is equal to or lesser than that of your competitors

Indicate whether the statement is true or false

Business

Vendors can communicate shipping information with retailers through electronic data interchange (EDI)

Indicate whether the statement is true or false

Business

Chelsea’s organization offers flexible benefits. During the open enrollment period, Chelsea can choose any benefits she wants. She selects several benefits, including elder care coverage to help her care for her mother and extra dental coverage because she knows her daughter will need braces this year. Chelsea’s organization is offering a _______ flexible benefit plan.

A. modular B. core-plus C. full-choice D. defined benefit E. low-deductible plan

Business

What type of decision is useful for less important decisions and should never be used for important decisions?

a. Heuristics b. Satisficing c. Persuasive d. Intuition

Business