WorksheetsConsideration of Internal Control in a Financial Statement A
Total questions: 10
Worksheet time: 2mins
What is the title of the Chapter discussed?
Consideration in a Financial Statement Audit of Internal Control
Consideration of Internal Control in an Internal Control Audit
Consideration of Internal Control in a Financial Statement Audit
Consideration in a Internal Control Audit of Internal Control
Which is not a Stage of Study and Evaluation of Internal Control?
Obtaining Evidential Matter to Support the Assessed Level of Control Risk
Classifying of Account Transactions Materially Misstated
Obtaining an Understanding of the Entity's Internal Control Structure
All are Stages of Study and Evaluation of Internal Control
Which of the Following is a Component that lets the Business achieve its Objectives?
Risk Assessment
Time Period
Presentation of Findings to the Board
None of the following is a Component
This ensure that the Management Directives are carried out.
Control Activities
Information System
Risk Assessment
Monitoring
These are matters that the auditor in his judgement, should be communicated to the audit committee
Reportable Information
Reportable Matters
Reportable Conditions
Reportable Judgement
Three of the following are categories of Control Procedures. Which is not?
Physical Control
Performance Review
Information Processing Control
Internal Control
Uses symbols to provide an overview of the data or authority within the internal control
Flowchart
Memorandum
Narrative Description
Internal Control Checklist
These are examples of test of controls. Which is not?
Inquiries of appropriate entity personnel.
Observation of the application of the policy or procedure.
Checking of Financial Statements
Re-performance of the application of the policy or procedure by the auditor
These are the classifications according to the scope of the system. Which is not a classification?
General Control
Application Control
General IT-Control
Substantial Control
This is a technique used to understand internal control that traces how the entity's transactions.
Trial and Error
Walkthrough
Sampling
Employee Satisfactory Survey
