Question Details

When the auditor finds that there are missing controls 



1.	A system walkthrough is used to:
	a.	test balances.
	b.	test details of transactions.
	c.	gain an understanding of internal controls.
	d.	determine acceptance of the client.
	
2. (Public)	PCAOB Standard 2 _______ the auditor to perform walkthroughs of significant processes.
	a.	encourages
	b.	requires
	c.	does not allow
	d.	permits
	
3.	The most important consideration in developing the audit plan and audit program is the:
	a.	client- size.
	b.	client- industry.
	c.	audit firm- available personnel.
	d.	the audit risk model used in its planning form.
	
4.	Tests of controls are directed toward the control-:
	a.	efficiency.
	b.	effectiveness.
	c.	efficiency and effectiveness.
	d.	cost benefit ratio.
	
5.
	When the auditor finds that there are missing controls in an area of the accounting system, the audit program in that area would be modified in such a way as to:
	a.	increase the amount of tests of controls.
	b.	increase the reliance on tests of controls.
	c.	cause the issuance of a qualified or adverse opinion.
	d.	eliminate the need for a test of controls.





Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help