A service organizations has an auditor issue one of two types of reports on their operations: 1) Type 1 and 2) Type 2. Which of the following is true? Type 2 Report describes and assess the design of the internal controls and also provides assurance about the operating effectiveness Type 2 report only provide assurance on the operating effectiveness of the service organization's controls. Type 1 report provide assurance on the operating effectiveness of the service organization's controls. Type 2 does not describes and assess the design of the internal controls 000

A service organizations has an auditor issue one of two types of reports on their operations: 1) Type 1 and 2) Type 2. Which of the following is true? Type 2 Report describes and assess the design of the internal controls and also provides assurance about the operating effectiveness Type 2 report only provide assurance on the operating effectiveness of the service organization's controls. Type 1 report provide assurance on the operating effectiveness of the service organization's controls. Type 2 does not describes and assess the design of the internal controls 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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