S1: Smaller companies tend to maintain less formal means and simpler processes and procedures in their internal control activities. S2: The determination of the specific procedures in audit will ultimately depend on the auditor’s professional judgment. Group of answer choices Both S1 and S2 are incorrect. Only S2 is correct. Only S1 is correct. Both S1 and S2 are correct.
S1: Smaller companies tend to maintain less formal means and simpler processes and procedures in their internal control activities. S2: The determination of the specific procedures in audit will ultimately depend on the auditor’s professional judgment. Group of answer choices Both S1 and S2 are incorrect. Only S2 is correct. Only S1 is correct. Both S1 and S2 are correct.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
S1: Smaller companies tend to maintain less formal means and simpler processes and procedures in their internal control activities.
S2: The determination of the specific procedures in audit will ultimately depend on the auditor’s professional judgment.
S2: The determination of the specific procedures in audit will ultimately depend on the auditor’s professional judgment.
Group of answer choices
Both S1 and S2 are incorrect.
Only S2 is correct.
Only S1 is correct.
Both S1 and S2 are correct.
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