Which of the following is not a principle of trust services?a. Security.b. Authentication.c. Privacy.d. Confidentiality.

Q: How can the use of passwords actually circumvent security? What actions can be taken to minimize…

A: A password is a combination of letters (eg. a, b, E, etc.), numbers (eg. 1,4,7, etc.) or symbols…

Q: In order to be relevant, financial information must have O neutrality. O confirmatory or predictive…

A: Financial information is the information regarding the financial aspects of business and this…

Q: What are the auditor's responsibilities for 'going concern assumptions’'?

A: The going concern is an accounting assumption where it is assumed that the business will be carried…

Q: Which of the following is considered an assurance engagement? Bookkeeping Preparation Compilation…

A: The question is based on the concept of Auditing.

Q: What is confidentiality? Give an example showing a violation of confidentiality.

A: Confidentiality is one of code of ethics for Auditor.

Q: What are disadvantages of external private audit?

A: External Audit refers to independent examination of financial statements of the organisations. These…

Q: Identify each of the following as a (a) purpose of an internal control system, (b) principle of…

A: Internal Control:   It is a process of assuring the effectiveness and efficiency of the objectives…

Q: What is a seal of assurance?

A:

Q: _______________________________is a possible safeguard implemented by the client that might mitigate…

A: Answer: Concept: Audit Independence threat is the threat that are experienced by auditor during the…

Q: Explain types of Security Issuers and Guarantors?

A: Types of security issuers are described as follows: Banks– Banks generally issue securities to meet…

Q: In your own words, explain the meaning of authentication and authorization. Be sure to distinguish…

A: The terms authentication and authorization are used in conjunction with each other in terms of…

Q: What is the auditor's obligation in light of the prudent person concept?

A: An auditor is a person who reviews the financial statements of a company and gives his opinion. The…

Q: advantages of external private audit?

A: External Private audit: An independent review and investigation of financial statements which are…

Q: Identify each of the following as a (a) purpose of an internal control system, (b) principle of…

A: Internal control system: Internal control system is a set of policies, procedures established to…

Q: Which of the following would be an example of a reasonable assurance engagement?

A: The audit is done in order to review the financial statement and finds the errors and misstatement…

Q: 'The policy instrument must be observable and measurable, it must be controllable by the Centra…

A: Policy instrument refers to the techniques that are used by the authorities of government or the…

Q: Can you tell me the difference between confidentiality and privacy? Explain

A: This question tells about the difference between confidentiality and privacy:

Q: What is privacy in the context of information security? Is perception of privacy the same for all…

A: In the context of information security, what exactly is privacy? Is there a difference in the sense…

Q: What is the link between the internal control environment and accountability?

A:

Q: Detail some of the advantages and disadvantages of setting up a trust.  Why set up an irrevocable…

A: Setting up the trust Advantages: There is a possibility of limited liability when there is an…

Q: ______________________is a possible safeguard implemented by the client that might mitigate an audit…

A: Audit: It is the examination of each and every financial transaction. so that auditor can make their…

Q: Distinguish between the different types of security orders and explain how a confirmation statement…

A: A confirmation statement refers to a document that consists of general information related to…

Q: an engagement is classified as a limited assurance engage ic a roduuction in assurance engagement…

A: Step 1 The Scope of Assurance Engagement is based on what type of assurance services is to be given,…

Q: element of an assurance engagement

A: Option a is wrong because the appropriate subject matter is an element of assurance engagement. The…

Q: An assurance service is defined as a service thata. Provides auditing services to nonfinancial…

A: Assurance service: It is aimed at improving the quality of information for the individual making…

Q: prudent person concept

A: Prudent person concept is a widely used term in accounting and auditing. It suggests that the person…

Q: Describe the term certificate of compliance?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Internal control is designed to provide: : A Certainty. B Freedom from fraud. C Reasonable…

A: Internal control is very useful and important for every business. It means those procedures which…

Q: What is the major difference between auditing services and assurance services?

A: Audit and assurance both are the process used to analyse and evaluate the financial records of the…

Q: Outline the anti-avoidance provisions as they relate to dealings in security

A: Anti avoidance provisions means a cluster of statutory provisions designed to stop certain…

Q: Providing timely information about transactions in sufficient detail to permit proper classification…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: two attributes that an assurance professional must possess to maintain credibility

A: Assurance is giving a confidence on the items under consideration. This is usually conducted by…

Q: Audit Client Acceptance Procedures

A: Audit Client Acceptance Procedures are certain procedures to be followed by the auditor before…

Q: Define security instrument (or trust receipt)

A: A trust receipt is a notification of the release of goods from a bank to a purchaser, with the bank…

Q: Which of the following is NOT included in the concept of internal control? O entity's resources O…

A: Internal controls are the set of rules and procedures through which an entity ensures integrity and…

Q: What controls should be employed to avoid breaches into an accountijg information system.

A: An Accounting Information System (AIS) is a system which the businesses are using to recognize,…

Q: What is meant by the term level of assurance?

A: Assurance implies confidence or satisfaction regarding any process or thing.

Q: What is an inter vivos trust?

A: Inter Vivos Trust: An inter vivos trust is a kind of trust which is made in the lifetime of the…

Q: Define assurance and assurance services.

A: Assurance basically is a type of audit with the main intention of improving the transparency and…

Reasons for Estate Planning

Planning is a process that helps decide in advance about future activities and operations. Planning helps to draft the procedures by identifying, analyzing, and designing how to work, when to work, by whom should be done, and what has to be done. It is the primary step followed by a person, business organizations, institutions, companies, etc.