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9 Cards in this Set
- Front
- Back
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In order for an external auditor to complete an audit of a public company, the entity's management must comply with all of the following except: |
Present an oral assessment of the effectiveness |
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An "integrated audit" as stated in Section 404 of the Sarbanes-Oxley Act means |
The auditor must conduct two audits |
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Section 404 of the Sarbanes-Oxley Act requires the auditor to provide which of the following? |
Reasonable assurance on both the financial statements and internal control. |
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A deficiency that implies that there is a reasonable possibility of misstatement in the financial statements that is significant but not material is |
A significant deficiency. |
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Which of the following is not a primary objective of internal control as established by COSO? |
Effective purchasing systems. |
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The main goal of auditing internal control is |
To evaluate the effectiveness of controls |
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An auditor performing an audit of internal control over financial reporting would be required to
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Form an opinion on the effectiveness of internal control. |
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S&H Associates has just performed an audit of Bob's Bikes. S&H was unable to obtain a written representation from management about internal control. Which of the following is true? |
S&H should consider this situation a limitation on the scope of the audit. |
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The primary purpose of a generalized computer audit program is to allow the auditor to |
Independently process electronic data processing records. |
