Why do we need internal, external and government auditor in a company?

Q: As IT auditors, it's critical that we establish a common "risk" language with management.…

A: IT auditors and management can communicate and make decisions more effectively when they have a…

Q: rm of financial misstatement, how is fraudulent s

A: Fraud will be a malicious act committed by people to fulfilling the personal benefits. In an…

Q: Which of the following is NOT likely to be considered as a management function? 1.Creating a…

A: Management is the process of managing a company's resources and activities in order to achieve its…

Q: Computers remove a fundamental separation of functions between authorizing and processing…

A: It is a true statement that computers remove a basic separation strategy of separating the functions…

Q: CPAs may audit around or through computers in the examination of financial statements of client who…

A: Auditing is explained as a process used by the auditor in examining records of the organization and…

Q: A CIS environment exists when a computer of any type o. size is involved in processing of an…

A: Answer: CIS is defined as one of information system which is based on computer information system.…

Q: SLO-4.1. Which of the following would not qualify as an internal control procedure within a…

A: Internal controls are the procedures ensuring that the financial reporting done by the business is…

Q: ider “control environment.” Why it is important for auditors to understand a client’s control…

A: A controlled environment refers to the term "Internal control environment" which implies that the…

Q: Who are the professional organizations who are in charge of fraud auditing? Birefly elucidates.

A: This question explains about the professional organization of fraud auditing

Q: Your client has outsourced the majority of the accounting information system to a third-party data…

A: The fact that your client has outsourced the majority of its accounting information system to a 3rd…

Q: CPAs may audit around or through computers in the audit of the financial statements of clients who…

A: Auditing Around the Computer: It is an auditing approach that is used to test or check the…

Q: Do you agree with the statement “The term IT auditor should be considered obsolete because implies a…

A: I disagree with the statement, “The term IT auditor should be considered obsolete because it implies…

Q: CPAs may audit around or through computers in the audit of the financial statements of clients who…

A: Auditing is a gathering of information and evaluation of evidence as to report on the degree of…

Q: Which of the following is NOT an example of externally generated evidence sent directly to the…

A: Audit evidence refers to data obtained by an auditor for arriving at his judgment while performing…

Q: External auditors are very important gatekeepers. What was the cause of the breakdown in the…

A: Auditing can be defined as the verification and examination of the financial statement that is…

Q: Which of the following is not the function of audit committee? a)To make recommendations about…

A: An audit committee seems to be a body of non-executive directors appointed by and working under the…

Q: Who is the professional bodies that responsible in fraud audit? Birefly explain.

A: Fraud in audits occurs when an entity is discovered to have improperly manipulated financial…

Q: In auditing through the computer, CPAs may use test data. (1) What are test data? (2) Why do CPAs…

A: Auditing is the process of independent examination of the information and the accuracy of the…

Q: Why is Responsibility Accounting necessary and how is it implemented? 2) Determination of control…

A: Responsibility accounting is a system for accumulating and reporting financial information about the…

Q: What is the importance of Forensic Accounting and Fraud Detection? Please give as much information…

A: Forensic Accounting : The integration of accounting, auditing and investigative skills yields…

Q: Explain why a company would hire internal auditors if they already have an external auditor.…

A: Answer for above question are as follows

Q: CPAs may audit around or through computers in the examination of financial statements of clients who…

A: Audit is defined as inspection of the books of the accounts through auditor followed through…

Q: CPAs may audit around or through computers in the audit of the financial statements of clients who…

A: An audit is the unbiased and independent examination of financial records and statements of an…