Auditors typically rely on internal controls of their private company clients only as needed to complete the audit and satisfy Sarbanes-Oxley requirements O only if the controls are determined to be effective only if the client asks an auditor to test controls only if the controls are sufficient to increase control risk to an acceptable level

Auditors typically rely on internal controls of their private company clients only as needed to complete the audit and satisfy Sarbanes-Oxley requirements O only if the controls are determined to be effective only if the client asks an auditor to test controls only if the controls are sufficient to increase control risk to an acceptable level

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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Question

Auditors typically rely on internal controls of their private company clients
only as needed to complete the audit and satisfy Sarbanes-Oxley requirements O
only if the controls are determined to be effective O
only if the client asks an auditor to test controls
only if the controls are sufficient to increase control risk to an acceptable level

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