What do understand by internal control

Assignment Help Accounting Basics

Reference no: EM132785059

Problem 1: Financial statement assertions are important to auditors because they should consider audit risk at the assertion level for all significant account balances, transaction classes, and disclosures. Identify and explain the components of audit risk and provide evidence from Annual report of NBK.

Problem 2: The required understanding of the client is used by the auditors to help plan the audit and to assess the risks of material misstatement at the financial statement and relevant assertion. Describe the nature of the risk assessment procedures that auditors use to obtain an understanding of the client and its environment. Support your discussion from annual report of NBK.

Problem 3: Write the summary on the auditor's report. Your summary should include the main points of report and auditor's opinion. Also identify which type of opinion auditor expressed in the annual report-

Problem 4: What do you understand by internal control? Discuss the auditor's duty in terms of internal control system. Provide reference from annual report.

Attachment:- NBK.zip

Reference no: EM132785059

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