Author Question: The employee in charge of authorizing credit to the company's customers doesnotfully understand the ... (Read 38 times)

krabuske · **on:** Aug 21, 2022

Question 1

The auditor should identify and include only ________ controls since they will be sufficient to achieve the transaction-related audit objectives and will also provide audit efficiency.
◦ key
◦ significant
◦ material
◦ compensating

Question 2

The employee in charge of authorizing credit to the company's customers does not fully understand the concept of credit risk. This lack of knowledge would
◦ constitute a deficiency in operation of internal controls.
◦ constitute a deficiency in design of internal controls.
◦ constitute a deficiency of management.
◦ not constitute a deficiency.

Hamad · **Reply #1 on:** Aug 21, 2022

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