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What aspects of internal control must the auditor assess

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Reference no: EM132931702

Questions -

Q1. What aspects of internal control must the auditor assess when performing procedures to obtain an understanding of internal control?

Q2. What is the control environment? What is the relationship between the control environment and the other four components of internal control?

Q3. The separation of operational responsibility from record keeping is meant to prevent different types of misstatements than the separation of custody of assets from accounting. Explain the difference in the purposes of these two types of separation of duties.

Q4. What is the auditor's responsibility for obtaining an understanding of the internal control?

Q5. What is an internal control walkthrough? What is its purpose?

Reference no: EM132931702

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