Answered

At Westonci.ca, we provide reliable answers to your questions from a community of experts. Start exploring today! Connect with a community of experts ready to help you find solutions to your questions quickly and accurately. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

Statements Answer 1. Significant financial statement accounts are materially affected, either directly through entries in the general ledger, or indirectly through the creation of rights or obligations that may or may not be recorded in the general ledger by __________. 2. The auditors should design procedures to provide a high level of assurance that the controls related to each __________ are operating effective. 3. A significant deficiency is a control deficiency that is less severe than a __________ yet important enough to merit attentions by those responsible for oversight of the company's financial reporting. 4. To express the internal control opinion, the auditors should obtain sufficient evidence on the effectiveness of controls at the _________ date. 5. Ineffective audit committee oversight of management is regarded as at least a __________. significant deficiency

Sagot :

Answer:

Explanation:

1. Significant financial statement accounts are materially affected, either directly through entries in the general ledger, or indirectly through the creation of rights or obligations that may or may not be recorded in the general ledger by major class of transaction.

2. The auditors should design procedures to provide a high level of assurance that the controls related to each relevant assertion are operating effective.

3. A significant deficiency is a control deficiency that is less severe than a material weakness yet important enough to merit attentions by those responsible for oversight of the company's financial reporting.

4. To express the internal control opinion, the auditors should obtain sufficient evidence on the effectiveness of controls at the as of date.

5. Ineffective audit committee oversight of management is regarded as at least a significant deficiency

We appreciate your time. Please come back anytime for the latest information and answers to your questions. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.