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Multiple Choice Qu 7 - 4 0 ( Static ) [ LO 7 - 2 , 7 - 6 ] Select the term for each
Multiple Choice Qu StaticLO
Select the term for each closest definition or portion of a definition in the first column. Each te not at all.
Note: Select NA if there is no term for the "Definition or Portion
Definition or Portion
A control established to remedy misstatements that are discovered by a detective control.
A control that functions together with another control to achieve the same control objective.
A control that reduces the risk that an existing or potential control weakness will result in a failure to meet a control objective.
A control that reduces the risk of misstatement by remediating control deficiencies through automated means.
A deficiency in internal control such that there is a reasonable possibility that a material misstatement will not be prevented or detected on a timely basis.
A deficiency in internal control that is less severe than a material weakness, but more severe than a significant deficiency.
A situation in which a control does not allow management or employees, in the normal course of performing their functions, to prevent or detect misstatements on a timely basis.
Duplicate controls that achieve a control objective.
Procedures cycled periodically through the auditors' internal control deviation analysis.
The sequence of procedures applied by the client in processing a particular type of recurring transaction.
A procedure in which an auditor follows a transaction from origination through the company's processes, including information systems, until it is reflected in the company's financial records.
A control that is precise enough to address risks of material misstatement at the assertion level.
A report that addresses operating effectiveness of controls.
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