Principles Of Auditing & Other Assurance Services
21st Edition
ISBN: 9781259916984
Author: WHITTINGTON, Ray, Pany, Kurt
Publisher: Mcgraw-hill Education,
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Question
Chapter 18, Problem 25RQ
To determine
Explain the type of report that should be issued when management imposes a scope limitation.
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What are the limitations on Control Activities?
Which of the following is not one of the components of internal control according to the framework?
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Monitoring Activities
b.
Control Activities
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d.
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What does “limitations of internal control” mean? Provide examples of limitations that are inherent to internal control.
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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- Which type of control is considered a compensating control? a. segregation of duties b. access control c. supervision d. accounting recordsarrow_forwardWhich of the following is not a common procedure for assessing operating effectiveness of preventive controls? a. Observation of personnel b. Analysis of trends or ratios c. Inspection of documents d. Inquiries of managementarrow_forwardDiscuss limitations to establishing the system of internal controls at organization.arrow_forward
- How does inherent risk relate to internal controls? Why is it important to assess inherent risks of material misstatement prior to evaluating the quality of an organization’s internal controls?arrow_forwardWhich of the following is not one of the categories of control activities? a.Checks on recorded amounts b.Segregation of duties c.Clearly defined authority and responsibility d.Defalcation and financial reportingarrow_forwardDefine a scope limitation and distinguish between client-imposed and circumstance-imposed scope limitations. What reporting options are available to auditors when scope limitations are encountered during the engagement?arrow_forward
- Describe some limitations of internal conrol systems. Why do limititations on internal control exist?arrow_forwardWhy an internal control system can only provide reasonable assurance on the achievement of an entity’s objectives?arrow_forwardWhich one of the following is not included in the control environment? a. Integrity & Ethical values b. Organizational Structure c. Competence of Personnel d. External Auditorarrow_forward
- describe mechanisms that discipline fi nancial reporting quality and the potential limitationsof those mechanisms;arrow_forwardWhich of the following is not one of the elements of a good system of internal control? a.Control environment b.Analysis of control procedures c.Information and communication d.Risk assessmentarrow_forwardWhich of the following i not an element of internal control?A. Control environmentB. MonitoringC. Compliance with laws and regulationsD. Control proceduresarrow_forward
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