Subject: internal auditing - needs to perform control testing

Q: Discuss the audit process. How does reliance on controls affect the audit process? Answer…

A: The audit is an independent examination of the financial statement of the entity to form an opinion.…

Q: explain the importance of internal control procedures.

A: Internal control: Whatever be kind of control, whether economic or related to the management or any…

Q: Which of the following is an element of the Oa. Risk assessment plans Ob. Managements' operating…

A: The right answer is b Management's operating styles

Q: Explain implementation and maintenance of adequate internal controls.

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: relationship between application controls and transaction-related audit o

A: Application control is a check on the application in which the wrong execution of data input is…

Q: Describe the benefits of internal control report.

A: Internal Control Report:   An internal control report is the end result of the conducting an…

Q: Discuss what internal control is in audit and assurance in depth.

A: Internal Control is a set of policies, procedures, and processes designed by an organization to…

Q: Explain the link between application controls and the audit goals for transaction-related audits.

A: Introduction: In the context of an application, application control is a check-in in which the…

Q: Identify the differences between internal audit and external audit

A: Audit is an independent examination of books of accounts and records of an entity. Size of the…

Q: prostulates of auditing

A: An independent assessment of any organization's financial information is referred to as auditing.…

Q: Define control risk and explain the role of control risk assessment in audit planning.

A: Three types of risks in auditing: Inherent Risk Control Risk Detection Risk Control Risk: It is…

Q: ne independence and objectivity as it relates to internal audit functi

A: The internal audit function refers to the process of asses the internal functions of a company as…

Q: Why is internal control questionnaire important in internal control components in Auditing?

A: Internal control is a process which helps an organization achieve its objectives toward operational…

Q: The internal audit function is part of what element of the internal control system? a.Risk…

A: Five elements of internal control system are: 1. Risk assessment 2. Control activities 3. Control…

Q: How testing transaction as appropriate in in

A: Internal Control System: An internal controls system includes a group of rules, policies, and…

Q: Discuss internal control consideration.

A: Internal control is a method to ensure the integrity of financial information, targets and…

Q: What element of internal control would include the setting of "tone at the top"? a.control…

A:

Q: 1.Explain the importance of internal controls to auditors and management.

A: The formulation of internal controls is done by the management and the testing is done by auditors…

Q: onal structure. sting.

A: To given the correct option as,

Q: process and steps involve in internal execution

A: Internal auditing is a process in which the internal controls and accounting processes are checked…

Q: Describe how the audit team assesses control risk in an IT environment.

A: Control risk in the audit :           As the name suggests, it is the risk associated with the…