Reference no: EM132914112

Problem 1: Which of the following statements relating to International Standards on Auditing (SAS), if any, is/are corect?

I. International Standards on Auditing (SAS) are issued by the International Accounting Standards Board (ASB) and provide on the performance and conduct of an audit
II. In the event that ISAs differ from local legislation in a specific country, auditors must comply with the requirements of the ISAS

A Neither 1 or 2
B. Both i and II
C. C II only
D. D. I only

Problem 2: There are a number of specific elements that usually contribute to a successful control environment, and which may be used as indicators of the quality of the control environment of a particular organisation Which of the following is NOT one of these elements?

A. Organisational structure.
B Assignment of authority and responsibility.
C. Human resource policies and practices.
D. Segregation of duties in management

Problem 3: Implementation of a control means that the control exists and that:

A. All necessary personnel are trained to operate the control
B. The entity is using it.
C. The control is documented.
D. The control was properly designed

Problem 4: Which of the following makes for an effective control environment with regards to commitment competence?

A. Its culture is one in which quality and competence are openly valued
B. Increase interaction between senior management and operating management
C. Assure independence from management
D. Reduce pressure to meet unrealistic performance targets