Johnson, CPA, has been engaged to audit the financial statements of Rose, Inc., a publicly held retailing
Question:
Johnson, CPA, has been engaged to audit the financial statements of Rose, Inc., a publicly held retailing company. Before assessing control risk, Johnson is required to obtain an understanding of Rose’s control environment.
Required:
a. Identify additional control environment factors (excluding the factors illustrated in the following example) that set the tone of an organization, influencing the control consciousness of its people.
b. For each control environment factor identified in part (a), describe the components and why each component would be of interest to the auditor. Use the following format:
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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Step by Step Answer:
The control environment factors that establish enhance or mitigate the effectiveness of specific controls and their components are Communication and Enforcement of Integrity and Ethical Values The eff...View the full answer
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Related Book For 
Auditing and Assurance Services A Systematic Approach
ISBN: 978-1259162343
9th edition
Authors: William Messier, Steven Glover, Douglas Prawitt
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