Your client decides to go from a private company to a public company. Considering how this influences the audit risk model, how does this impact the level of planned evidence?

Select one: a. It increases b. It decreases c. It stays the same d. Not applicable

The "obtaining an understanding" work phase (Phase 1) of internal control evaluation would not give auditors an overall familiarity with the client's:

Select one: a. control environment. b. information and communication system. c. control activity effectiveness. d. monitoring activities.

Which of the following fundamental principles does the following statement fall under: The auditor must plan the work and properly supervise any assistants?

Select one: a. Reporting b. Performance c. Reasonable Assurance d. Responsibilities e. None of the above.

According to the COSO framework, which of the following is not one of the categories of objectives for an internal control system? Select one: a. Effectiveness of the external audit. b. Reliability of financial reporting. c. Compliance with applicable laws and regulations. d. Effectiveness and efficiency of operations. e. Assurance provided by client management.