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what is the answer for Q1-Q4 Q1 Which of the following statements about internal control is false? A The design of internal control structure is
what is the answer for Q1-Q4
Q1 Which of the following statements about internal control is false? A The design of internal control structure is decided by the business and not by the auditor. B if significant internal control deficiencies are discovered the auditor needs to inform management in writing in a timely manner. C internal control weakness directly cause errors in the financial statements. D internal control are designed to prevent, detect and correct errors. Q2 According to ASA315.459, which of the following is not an element of the internal control framework A general and application controls in IT systems B the information system, including related business process C the entity's risk assessment procedures D the control environment Q3 The relevance of an internal control to the audio will be affected by which of the following items? A.Inherent limitations in control system design B. The significance of the related risk. C. Whether management has acknowledged its responsibility to maintain an adequate system of internal controls in the engagement letter for the audit. D. The quality of the monitoring of controls at the organization. Q4 Which account and assertion will be most affected by the control that requires a periodic physical count of inventory and the count to be compared to the inventory subledger and ail discrepancies to be resolved with adjusting journal entries? A Accuracy of COGS B Existence of Inventory C Completeness of Inventory D Existence and Completeness of InventoryStep by Step Solution
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