What is the primary goal of an auditor when evaluating internal controls?
Understanding Internal Controls Evaluation in Auditing

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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
To evaluate the client's market position
To learn about the client's financial statements
To assess the client's profitability
To understand and document the client's controls
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which approach is used by auditors to focus on significant accounts and relevant assertions?
Bottom-up approach
Sideways approach
Random approach
Top-down approach
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a walkthrough in the context of evaluating internal controls?
A physical tour of the client's office
A process of understanding and assessing controls in place
A method to calculate financial ratios
A way to interview the client's employees
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which method is NOT used to document the understanding of internal controls?
Financial statement analysis
Narrative
Flow chart
Internal controls questionnaire
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the purpose of testing relevant controls during the control risk assessment?
To ensure they are functioning properly
To improve the client's profitability
To increase the client's market share
To reduce the client's tax liability
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