Question Tag: Control Procedures

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AAA – Nov 2013 – L3 – AII – Q14 – Advanced Audit Planning and Strategy

Describe a series of questions used by auditors to evaluate accounting and control policies.

A series of questions about accounting and control policies and procedures that the auditor considers necessary to prevent material misstatements in the presentation of financial statements is………………………

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AA – Nov 2018 – L2 – Q1a – Internal Control Systems

Explain control environment and control procedures and discuss the five elements of internal control as per ISA 315.

Auditors are required by International Standards on Auditing (ISA) to understand and assess a client’s system of internal control. Consequently, auditors must use their judgment to determine whether to test all or part of the internal control system as part of their response to the assessed risk of material misstatement in the financial statements to be audited.

Required:
i. Explain the following terms:

  • Control environment
  • Control procedures
    (5 Marks)

ii. State and explain the five elements of internal control as identified by ISA 315.
(5 Marks)

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AAA – Nov 2013 – L3 – AII – Q14 – Advanced Audit Planning and Strategy

Describe a series of questions used by auditors to evaluate accounting and control policies.

A series of questions about accounting and control policies and procedures that the auditor considers necessary to prevent material misstatements in the presentation of financial statements is………………………

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Find Related Questions by Tags, levels, etc.

AA – Nov 2018 – L2 – Q1a – Internal Control Systems

Explain control environment and control procedures and discuss the five elements of internal control as per ISA 315.

Auditors are required by International Standards on Auditing (ISA) to understand and assess a client’s system of internal control. Consequently, auditors must use their judgment to determine whether to test all or part of the internal control system as part of their response to the assessed risk of material misstatement in the financial statements to be audited.

Required:
i. Explain the following terms:

  • Control environment
  • Control procedures
    (5 Marks)

ii. State and explain the five elements of internal control as identified by ISA 315.
(5 Marks)

Login or create a free account to see answers

Find Related Questions by Tags, levels, etc.

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