Which of the following does not accurately summarize auditors’ requirements regardinginternal control?LO 5-5LO 5-5Management’s Report onInternal ControlAn Audit ofInternal Controla. No Nob. Yes Noc. No Yesd. Yes YesPublic Entity Nonpublic Entitya. Understanding Yes Yesb. Documenting Yes Yesc. Evaluating control risk Yes Yesd. Test controls Yes Yes
Which of the following does not accurately summarize auditors’ requirements regardinginternal control?LO 5-5LO 5-5Management’s Report onInternal ControlAn Audit ofInternal Controla. No Nob. Yes Noc. No Yesd. Yes YesPublic Entity Nonpublic Entitya. Understanding Yes Yesb. Documenting Yes Yesc. Evaluating control risk Yes Yesd. Test controls Yes Yes
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following does not accurately summarize auditors’ requirements regarding
internal control?
LO 5-5
LO 5-5
Management’s Report on
Internal Control
An Audit of
Internal Control
a. No No
b. Yes No
c. No Yes
d. Yes Yes
Public Entity Nonpublic Entity
a. Understanding Yes Yes
b. Documenting Yes Yes
c. Evaluating control risk Yes Yes
d. Test controls Yes Yes
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