Reference no: EM133040880

1. Describe the 2 main key criteria of auditing.

2. How are internal controls created and how they are used internally to ensure and reduce operational risk. (what makes a successful audit)

3. What and how are parameters set around an audit? Why are they significant and how do we determine if the proper parameters have been set? (provide examples where possible)

4. What are 2 key criteria regarding revenue cycles in retrospect to the balance sheet in terms of receivables and payable?

5. What is audit sampling, sampling errors and sampling shortcomings? (provide examples where possible)

6. Briefly explain controls assert assessments and how we establish controls.