Internal control and audit sampling

Reference no: EM1350641

You have discussed with the president of Vista Corporation several material weaknesses in internal control that have come to your attention during your audit. At the conclusion of this discussion, the president states that he will personally take steps to remedy these problems and that there is no reason for you to bring these matters to the attention of the board of directors. He explains that he believes the board should deal with major policy decisions and not be burdened with day-to-day management problems. How would you respond to this suggestion?

Reference no: EM1350641

Questions Cloud

Write and test c program which outputs waveform : Write and test a C program which outputs waveform which switches from 10.0 kHz with a 50% duty cycle to 25.0 kHz with a 5% duty cycle every 5 seconds.

Authoritarian and permissive parenting style : Whether children are exposed to an authoritative, authoritarian, or permissive parenting style can have a great impact on how children handle challenges in their lives.

Define the steps involved in the capital budgeting process : Define the steps involved in the Capital Budgeting process and Explain if this is a good project or not and why

Determine the amount received by farmer : A farmer anticipates harvesting 50,000 bushels of wheat in September. How much money would the farmer earn from hedging by selling eight agreements of September.

Internal control and audit sampling : You have discussed with the president of Vista Corporation several material weaknesses in internal control that have come to your attention during your audit.

What do forecasts imply about relative strength : Identify economic forecasts for real GDP, the unemployment rate, the inflation rate, and a key interest rate. What do your forecasts imply about the relative strength of the economy over the next two years.

Conflict in the parenting styles : Research has shown that children who are in conflict-ridden homes experience decreased school performance and increases in delinquency, behavior problems and depressive feelings.

Sort array of elements using the quick sort algorithm : "sort an array of 10,000 elements using quick sort algorithm as follows: sort the array using pivot as middle element of the array

Danny as well as marion klein were injured when an arial : Danny as well as Marion Klein were injured when an arial shell at a public fireworks exhibit went astray and exploded newr them

User Account

All Pages