Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Chapter 24, Problem 14RQ
To determine
Explain the difference between a management letter and a letter about significant deficiencies in internal control. Also, provide examples of items that might be included in a management letter.
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Chapter 24 Solutions
Auditing And Assurance Services
Ch. 24 - Prob. 1RQCh. 24 - Explain why an auditor is interested in a clients...Ch. 24 - Prob. 3RQCh. 24 - Prob. 4RQCh. 24 - Prob. 5RQCh. 24 - Prob. 6RQCh. 24 - Prob. 7RQCh. 24 - Prob. 8RQCh. 24 - What major considerations should the auditor take...Ch. 24 - Identify five audit procedures normally done as a...
Ch. 24 - Prob. 11RQCh. 24 - Prob. 12RQCh. 24 - Prob. 13RQCh. 24 - Prob. 14RQCh. 24 - Prob. 15RQCh. 24 - Prob. 16RQCh. 24 - Prob. 17RQCh. 24 - Prob. 18RQCh. 24 - Prob. 19RQCh. 24 - Prob. 20.1MCQCh. 24 - Prob. 20.2MCQCh. 24 - Prob. 20.3MCQCh. 24 - Prob. 21.1MCQCh. 24 - Prob. 21.2MCQCh. 24 - Prob. 21.3MCQCh. 24 - Prob. 22.1MCQCh. 24 - Prob. 22.2MCQCh. 24 - Prob. 22.3MCQCh. 24 - Prob. 23.1MCQCh. 24 - Prob. 23.2MCQCh. 24 - Prob. 23.3MCQCh. 24 - Prob. 24DQPCh. 24 - Prob. 25DQPCh. 24 - Prob. 26DQPCh. 24 - Prob. 28DQPCh. 24 - Prob. 29DQPCh. 24 - Prob. 32DQPCh. 24 - Prob. 33DQP
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Similar questions
- Audit procedures designed to evaluate the operating effectiveness of controls to prevent, detect, or correct material misstatements are known as organizational structure. O control testing. O commitment to competence. O management's philosophy and operating style.arrow_forwardSection 404 requires management to make a statement identifying the control framework used to conduct their assessment of internal controls. Discuss the options in selecting a control framework.arrow_forwardWhich of the following is not one of the elements of a good system of internal control? a.Control environment b.Analysis of control procedures c.Information and communication d.Risk assessmentarrow_forward
- Which of the following is not a common procedure for assessing operating effectiveness of preventive controls? a. Observation of personnel b. Analysis of trends or ratios c. Inspection of documents d. Inquiries of managementarrow_forwardIn which element of Internal Control are personnel policies included: Control Procedures Control Environment O Risk Assessmenet Information and Communication O Monitoringarrow_forwardWhich of the following is an element of the control environment? Oa. Risk assessment plans Ob. Managements' operating styles Oc. Control proceares Od. Information and communication activitiesarrow_forward
- INTERNAL CONTROL Examine the flowchart below and determine any control threats. Specifically discuss the control problems, the possible dangers, and any corrective procedures you would recommend.arrow_forwardHow does inherent risk relate to internal controls? Why is it important to assess inherent risks of material misstatement prior to evaluating the quality of an organization’s internal controls?arrow_forwardShould an organization focus on controllable or uncontrollable factors to effectively implement a successful performance measurement system? Explain your answer.arrow_forward
- _____, which constitute one of the most important elements of internal control, include separating responsibilities for related operations. Control procedures Risk assessment activities Information and communication activities Risk monitoring proceduresarrow_forwardThe purpose of ____________ is to help manage and control risk appropriately rather than to eliminate it. Internal accounting Internal control system External audit Risk managementarrow_forwardWhich of the following is not an aspect of action control? Select one: O a. To define objectives O b. To take corrective action O c. To evaluate actual performance O d. To compare actual performance with goalsarrow_forward
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