Risk Assessment and Internal Control Quiz
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Questions and Answers

Which of the following is NOT a learning outcome of studying this chapter?

  • Learning to review the systems of Internal Control
  • Knowing the framework of Reporting of Internal Control (correct)
  • Identifying the components of Audit Risk and Internal Control
  • Understanding the concept of Risk Based Audit, Internal Control and Risk Assessment

    • What is the nature of the Internal Control System?

  • Reporting to clients on Internal Control Weaknesses
  • Manner of Evaluation of Internal Control System (correct)
  • Components of Internal Control
  • Review of the System of Internal Control

    • What does the chapter mainly focus on?

  • Reporting to clients on Internal Control Weaknesses
  • Framework on Reporting of Internal Controls
  • Advanced Auditing and Professional Ethics
  • Risk Assessment and Internal Control (correct)

    • What is the objective of the Internal Control System?

    <p>Ensuring the achievement of organizational objectives</p> Signup and view all the answers

    What is the framework of Reporting of Internal Control?

    <p>Reporting to clients on Internal Control Weaknesses</p> Signup and view all the answers

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