ACC 403 help A Guide to career/Snaptutorial ACC 403 help A Guide to career/Snaptutorial | Page 7

The auditors primary purpose in auditing the client's system of
internal control over financial reporting is:
8.
A five-step approach can be used to identify deficiencies, significant
deficiencies, and material weaknesses. The first step in this approach
is:
9.
The employee in charge of authorizing credit to the company's
customers does not fully understand the concept of credit risk. This
lack of knowledge would constitute:
10.
Which of the following deal with ongoing or periodic assessment of
the quality of internal control by management?
11.
Misappropriation of assets is normally perpetrated by:
12.
Fraud is more prevalent in smaller businesses and not-for-profit
organizations because it is more difficult for them to maintain:
13.
Who is most likely to perpetrate fraudulent financial reporting?
14.
Company management is often under pressure to increase revenue
and/or net income. One approach is to use a "bill and hold"
arrangement. This is an example of which of the following?
15.
Most cases of fraudulent reporting involve:
16.
A ________ is responsible for controlling the use of computer
programs, transaction files and other computer records and
documentation and releases them to the operators only when
authorized.
17.
The approach to auditing where the auditor does not test automated
controls to reduce assessed control risk is called:
18.
Which of the following is a component of general controls?
19.