A critical element of control is monitoring.What is most likely to happen if management fails to monitor an internal control?
A) Necessary improvements will not be identified.
B) Personnel are likely to stop observing the control.
C) The inherent risk of an error will increase.
D) The auditor is likely to assume the control is working when it might not be.
Correct Answer:
Verified
Q1: Which of the following is not a
Q2: When an employee wrongfully includes non-business related
Q3: The existence of an independent audit committee
Q5: The possibility that fraud has resulted in
Q6: An audit client's decision to outsource its
Q7: Which of the following statements best describe
Q8: Two broad groupings of controls are _.
A)internal
Q9: An auditor can broadly define controls as
Q10: At what stage of the audit is
Q11: Which of the following is not normally
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents