Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
6 Cards in this Set
- Front
- Back
|
REC
|
Reliability of Financial Reporting
Effectiveness and Efficiency Compliance with laws and Regs |
|
|
Internal Controls
|
Important to both auditor and management. Management needs reliable info to make good sound business decisions and needs to meet stuartship responsibilities of safegaurding assets
Auditor_ provides assurance the accounting system is reliable |
|
|
Components of Internal Controls
|
PERMI
|
|
|
PERMI
|
Control Procedures
Control Environment Risk Assessment Monitoring of Controls IT & Communication |
|
|
2 types of audit strategy
|
Substantive Strategy
Reliance Strategy |
|
|
Model Rule
|
M
|
