This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: When a compensating control exists, the absence of a key control (Read 54 times)

knightj

  • Full Member
  • ***
  • Posts: 163
on: Aug 21, 2022

Question 1

To determine if significant internal control deficiencies are material weaknesses, they must be evaluated on their
◦
LikelihoodSignificance
YesYes

◦
LikelihoodSignificance
NoNo

◦
LikelihoodSignificance
YesNo

◦
LikelihoodSignificance
NoYes


Question 2

When a compensating control exists, the absence of a key control
◦ is no longer a concern because there is no longer a significant deficiency or material weakness.
◦ is still a major concern to the auditor.
◦ could cause a material loss, so it must be tested using substantive procedures.
◦ is magnified and must be removed from the sampling process and examined in its entirety.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by knightj on Aug 21, 2022

hiyayyay

  • Full Member
  • ***
  • Posts: 204
Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


knightj

  • Member
  • Posts: 163
Reply 2 on: Aug 21, 2022
Wow, this really help

vickybb89

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

When blood is deoxygenated and flowing back to the heart through the veins, it is dark reddish-blue in color. Blood in the arteries that is oxygenated and flowing out to the body is bright red. Whereas arterial blood comes out in spurts, venous blood flows.

Did you know?

The liver is the only organ that has the ability to regenerate itself after certain types of damage. As much as 25% of the liver can be removed, and it will still regenerate back to its original shape and size. However, the liver cannot regenerate after severe damage caused by alcohol.

Did you know?

Addicts to opiates often avoid treatment because they are afraid of withdrawal. Though unpleasant, with proper management, withdrawal is rarely fatal and passes relatively quickly.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Implications for infection control Implications for infection control
A) Male body louse. (Courtesy of the Centers for Disease Control and Prevention/Frank Collins, Ph.D. ... A) Male body louse. (Courtesy of the Centers for Disease Control and Prevention/Frank Collins, Ph.D. ...
Plasma protein binding and drug availability. (a) Drug exists in a free state or bound to plasma ... Plasma protein binding and drug availability. (a) Drug exists in a free state or bound to plasma ...
Control points in pyrimidine synthesis Control points in pyrimidine synthesis
10 side effect of birth control pills 10 side effect of birth control pills
Biological control agent: a commercially raised parasitoid wasp about to deposit a fertilized egg in Biological control agent: a commercially raised parasitoid wasp about to deposit a fertilized egg in
Video: Bone Healing Animation

For a complete list of videos, visit our video library