In the control process, what type of corrective action asks questions of "why&qu
A.immediate corrective action
B.cognitive corrective action
C.strategic corrective action
D.planned corrective action
E.basic corrective action
A.immediate corrective action
B.cognitive corrective action
C.strategic corrective action
D.planned corrective action
E.basic corrective action
What is the passage talking about?
A.The features of aluminum and its functions.
B.The process of aluminum.
C.The discovery of aluminum.
D.The promising future of aluminum.
The report showed us clearly how the car got ______ and crashed at last.
A.into control
B.under control
C.within control
D.out of control
(c) (i) Identify and describe FOUR quality control procedures that are applicable to the individual audit
engagement; and (8 marks)
A.bridge
B.engineering control station
C.recreation and messrooms
D.fire control room
The difference between the control group and the experimental group was ______.
A.the training that parents received
B.the age of the children
C.the books that were read
D.the number of the children
From the text we learn that small children ______.
A.have little control of themselves
B.usually steal things but grow up honest
C.are usually kleptomaniacs
D.like to give things away
(a) In order for auditors to operate effectively and to provide an opinion on an entity’s financial statements, they are given certain rights.
Required:
State THREE rights of an auditor, excluding those related to resignation and removal. (3 marks)
(b) ISA 315 Identifying and Assessing the Risks of Material Misstatement through Understanding the Entity and Its Environment requires auditors to obtain an understanding of control activities relevant to the audit.
Control activities are the policies and procedures that help ensure that management directives are carried out; and which are designed to prevent and detect fraud and error occurring. An example of a control activity is the maintenance of a control account.
Required:
Apart from maintenance of a control account, explain FOUR control activities a company may undertake to prevent and detect fraud and error. (4 marks)
(c) Describe THREE limitations of external audits. (3 marks)