Reference no: EM132704182
Problem 1. Most fundamentally, the purpose of control is to ensure:
a. Organizational objectives are met
b. Processing controls are effective
c. Employees are aware of requirements
d. B and C
e. None of the above
Problem 2. The following are the elements of control systems in general:
a.Segregation of duties, processing controls, reliability of AIS
b. Sensor,objective,feedback signal/mechanism
c. Thermostats, heaters,room temperature
d. COSO,AICPA,AAA
e. None of the above
Problem 3. Auditing standards for publicly listed firms are set by the
a. SEC
b. AICPA
c. COSO
d. PCAOB
e. Sarbanes-Oxley Act
Problem 4. Management and auditors of publicly listed firms must report on internal control to satisfy requirements of:
a. The traditional financial statement audit
b. The PCAOB Act
c. The Sarbanes-Oxley Act
d. All of the above
e. None of the above