S1: Assurance engagements performed by professional accountants are intended to improve the operating efficiency and effectiveness of the responsible parties. S2: An auditor is required to understand all the aspects of internal control of the client. Group of answer choices Only S1 is correct. Both S1 and S2 are incorrect. Only S2 is correct. Both S1 and S2 are correct.

S1: Assurance engagements performed by professional accountants are intended to improve the operating efficiency and effectiveness of the responsible parties. S2: An auditor is required to understand all the aspects of internal control of the client. Group of answer choices Only S1 is correct. Both S1 and S2 are incorrect. Only S2 is correct. Both S1 and S2 are correct.

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 38CYBK

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