controls are relevant to the auditor’s risk assessment
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Determine whether statement 1 and 2 are true or false
5. S1 -Objectives are the overall plans for the entity, while strategies are the operational approaches by which managements intends to achieve its objectives
S2- Not all controls are relevant to the auditor’s risk assessment
a. False, False
b. True, False
c. False, True
d. True, True
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