Principles Of Auditing & Other Assurance Services
21st Edition
ISBN: 9781259916984
Author: WHITTINGTON, Ray, Pany, Kurt
Publisher: Mcgraw-hill Education,
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Chapter 18, Problem 17RQ
To determine
Comment on the given statement related to the operating effectiveness of a control.
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Describe how the nature of evidence used to evaluate the controlenvironment differs from the nature of evidence used to evaluate control activities.
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Describe how the nature of evidence used to evaluate the control environment differs from the nature of evidence used to evaluate control actives.
Chapter 18 Solutions
Principles Of Auditing & Other Assurance Services
Ch. 18 - Prob. 1RQCh. 18 - Prob. 2RQCh. 18 - Prob. 3RQCh. 18 - Prob. 4RQCh. 18 - Prob. 5RQCh. 18 - Prob. 6RQCh. 18 - Prob. 7RQCh. 18 - Prob. 8RQCh. 18 - Prob. 9RQCh. 18 - Prob. 10RQ
Ch. 18 - Prob. 11RQCh. 18 - Prob. 12RQCh. 18 - Prob. 13RQCh. 18 - Prob. 14RQCh. 18 - Prob. 15RQCh. 18 - Prob. 16RQCh. 18 - Prob. 17RQCh. 18 - Prob. 18RQCh. 18 - Prob. 19RQCh. 18 - Prob. 20RQCh. 18 - Prob. 21RQCh. 18 - Prob. 22RQCh. 18 - Prob. 23RQCh. 18 - Prob. 24RQCh. 18 - Prob. 25RQCh. 18 - Prob. 26RQCh. 18 - Prob. 27RQCh. 18 - Prob. 28RQCh. 18 - Prob. 29QRACh. 18 - Prob. 30QRACh. 18 - Prob. 31QRACh. 18 - Prob. 32AOQCh. 18 - Prob. 32BOQCh. 18 - Prob. 32COQCh. 18 - Prob. 32DOQCh. 18 - Prob. 32EOQCh. 18 - Prob. 32FOQCh. 18 - Prob. 32GOQCh. 18 - Prob. 32HOQCh. 18 - Prob. 32IOQCh. 18 - Prob. 32JOQCh. 18 - Prob. 32KOQCh. 18 - Prob. 32LOQCh. 18 - Prob. 33OQCh. 18 - Prob. 34OQCh. 18 - Prob. 35OQCh. 18 - Match the following definitions (or partial...Ch. 18 - Prob. 37PCh. 18 - Prob. 38ITC
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- Describe how the nature of evidence used to evaluate the control environment differs from the nature of evidence used to evaluate control activearrow_forwardB. Talk about the Disadvantages of the Occasional Auditarrow_forwardWhy are weaknesses (lack of desired control procedures) not tested for compliance? Describe how weaknesses may not be detected during the review phase but discovered during the test of controls audit.arrow_forward
- Which of the following presumptions is correct about the reliability of evidential matter? a. To be reliable, evidential matter should be convincing rather than persuasive. O b. Reliability of evidential matter refers to the amount of corroborative evidence obtained. O c. Effective internal control provides more assurance about the reliability of evidential matter. O d. Information obtained indirectly from outside sources is the most reliable evidential matter.arrow_forward17) A control deficiency is always considered material weakness and PCAOB requires the auditors opinion on internal control to reflect this. True Falsearrow_forward5) What are common limitations of Internal Controls? a) Human Error b) Human Fraud c) Cost-Benefit Principle d) A, B, and C e) A and B onlyarrow_forward
- Inquiry and observation are applicable to gather evidence about a policy or procedures that does not provide documentary evidence. TRUE OR FALSE? WHY?arrow_forwardWhich of the following would not result in exposure to nonsampling risk?a. Measuring the characteristic of interest in an inappropriate manner.b. Selecting items that are not representative of the population of interest.c. Making an unintentional mistake in measuring the characteristic of interest.d. All of the above would result in exposure to nonsampling risk.arrow_forward13. In performing test of controls, which of the following questions IS NOT the concern that needs to be answered? a. What is the relationship between the assessed level of control risk and substantive testing? b. Who is the External Auditors? c. When was the control performed? d. Who performed the control? e. Was the control consistently applied?arrow_forward
- Which of the following does not increase the need for sufficient appropriate auditevidence?(1) A lower acceptable level of detection risk(2) An increase in the assessed control risk(3) A lower acceptable audit risk(4) A decrease in the assessed inherent riskarrow_forwardWhat is an evidence which can support a conclusion for the time being but it may be proven otherwise.arrow_forwardTrue or false: The lower the materiality level, the higher the amount of required evidence from substantive procedures to compensate for increased risk.arrow_forward
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