controls are relevant to the auditor’s risk assessment
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
Problem 40CYBK
Related questions
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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