AUD 3 Internal Control 10 - 1

Question 1

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

An auditor performs the following procedures to obtain and apply an understanding of internal control to an audit:

Step 1 – Obtain an understanding of the design of all 5 components of the entity’s internal control (CRIME) through the performance of risk assessment procedures.

Step 2 – Document the understanding of Internal Control.

Step 3 – Assess Risk of Material Misstatement (RMM) which consists of inherent risk (IR) and control risk (CR).
RMM = IR × CR

Step 4 – Develop an audit strategy to either:
o (RELY?)
Perform tests of control (TofC) to determine if CR is below maximum, reducing RMM below the level of IR and allowing for the modification of the nature, timing, and extent of further audit procedures (sub tests): or
o (NOT Rely)
Decide NOT to perform tests of controls, assessing CR at the maximum level as if the control did not exist, and measuring RMM as being equal to IR.

Step 5 – Reassess Risk of Material Misstatement and evaluate results.
o For controls for which tests of controls were performed, evaluate results to reassess RMM and determine if it is appropriate to modify the nature, timing, and extent of further audit procedures.

Step 6 – Document conclusions and determine the effect on the planned substantive procedures. At this point, the audit program needs to be developed or revised for further audit procedures.

Answer 1

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

An auditor performs the following procedures to obtain and apply an understanding of internal control to an audit:

Step 1 – Obtain an understanding of the design of all 5 components of the entity’s internal control (CRIME) through the performance of risk assessment procedures.

Step 2 – Document the understanding of Internal Control.

Step 3 – Assess Risk of Material Misstatement (RMM) which consists of inherent risk (IR) and control risk (CR).
RMM = IR × CR

Step 4 – Develop an audit strategy to either:
o (RELY?)
Perform tests of control (TofC) to determine if CR is below maximum, reducing RMM below the level of IR and allowing for the modification of the nature, timing, and extent of further audit procedures (sub tests): or
o (NOT Rely)
Decide NOT to perform tests of controls, assessing CR at the maximum level as if the control did not exist, and measuring RMM as being equal to IR.

Step 5 – Reassess Risk of Material Misstatement and evaluate results.
o For controls for which tests of controls were performed, evaluate results to reassess RMM and determine if it is appropriate to modify the nature, timing, and extent of further audit procedures.

Step 6 – Document conclusions and determine the effect on the planned substantive procedures. At this point, the audit program needs to be developed or revised for further audit procedures.

Question 2

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

(what is the form?)
Have the controls been IMPLEMENTED (put into use?).

To evaluate the implementation of a control means to determine whether a control is actually being used by the entity.

The auditor first considers the design of the control. If the control is improperly designed, it may represent a material weakness in the entity’s internal control.

Answer 2

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

(what is the form?)
Have the controls been IMPLEMENTED (put into use?).

To evaluate the implementation of a control means to determine whether a control is actually being used by the entity.

The auditor first considers the design of the control. If the control is improperly designed, it may represent a material weakness in the entity’s internal control.

Question 3

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

An auditor obtains an understanding of the entity and its environment, including its internal control (CRIME) through the performance of risk assessment procedures.

These are procedures designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the risk of material misstatement of the financial statements.

Answer 3

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

An auditor obtains an understanding of the entity and its environment, including its internal control (CRIME) through the performance of risk assessment procedures.

These are procedures designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the risk of material misstatement of the financial statements.

Question 4

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Risk assessment procedures include:

• Analytical procedures (Using high level data)
• Inquiries of management and others within the entity, including inquiries of internal auditors.
• Inspection (of documents and records)
• Observation (the application of specific controls)

Answer 4

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Risk assessment procedures include:

• Analytical procedures (Using high level data)
• Inquiries of management and others within the entity, including inquiries of internal auditors.
• Inspection (of documents and records)
• Observation (the application of specific controls)

Question 5

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the inf_________ that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Answer 5

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 6

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an au____ obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Answer 6

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 7

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal con____s will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Answer 7

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 8

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will in______y be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Answer 8

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 9

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the re____ of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Answer 9

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 10

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of in_____ies made of the entity’s management and others who the auditor believes can provide relevant information.

Answer 10

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 11

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s m_________ and others who the auditor believes can provide relevant information.

Answer 11

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 12

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and o____s who the auditor believes can provide relevant information.

Answer 12

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 13

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor be_____s can provide relevant information.

Answer 13

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 14

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide re______ information.

Answer 14

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 15

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can pro____ relevant information.

Answer 15

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

Question 16

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing au____, much information will be derived from reviewing prior period engagement files.

Answer 16

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files.

Question 17

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much inf________ will be derived from reviewing prior period engagement files.

Answer 17

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files.

Question 18

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be de___ed from reviewing prior period engagement files.

Answer 18

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files.

Question 19

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from re____ing prior period engagement files.

Answer 19

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files.

Question 20

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing pr___ period engagement files.

Answer 20

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files.

Question 21

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a con____ing auditor, much information will be derived from reviewing prior period engagement files.

Answer 21

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files.

Question 22

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period eng_______ files.

Answer 22

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files.

Question 23

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement f___s.

Answer 23

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information.

If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files.

Question 24

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

When ob____ing an understanding of controls that are relevant to the audit,

Answer 24

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315)

Step 1 –

1. Understand the Design of CRIME by performing Risk Assessment Procedures

When obtaining an understanding of controls that are relevant to the audit,

Question 25

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an und_______ing of controls that are relevant to the audit,

Answer 25

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit,

Question 26

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of con____s that are relevant to the audit,

Answer 26

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit,

Question 27

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are re______ to the audit,

Answer 27

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit,

Question 28

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may n__ rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Answer 28

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 29

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not r___ exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Answer 29

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 30

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exc_____ly on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Answer 30

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 31

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on in_____ies to evaluate the design of those controls and to determine whether they have been implemented.

Answer 31

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 32

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to eva_____ the design of those controls and to determine whether they have been implemented.

Answer 32

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 33

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the de____ of those controls and to determine whether they have been implemented.

Answer 33

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 34

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to det______ whether they have been implemented.

Answer 34

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 35

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been imp________ed.

Answer 35

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 36

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the De____ of CRIME by performing Risk Assessment Procedures Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information. If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files. When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Answer 36

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Most of the information that an auditor obtains about an entity’s internal controls will initially be the result of inquiries made of the entity’s management and others who the auditor believes can provide relevant information. If the auditor is a continuing auditor, much information will be derived from reviewing prior period engagement files. When obtaining an understanding of controls that are relevant to the audit, however, the auditor may not rely exclusively on inquiries to evaluate the design of those controls and to determine whether they have been implemented.

Question 37

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially eva_____ the design of the control,

Answer 37

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control,

Question 38

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the de____ of the control,

Answer 38

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control,

Question 39

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inq___ies,

Answer 39

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries,

Question 40

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information de___ed from inquiries,

Answer 40

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries,

Question 41

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to det______ whether it has the potential of reducing RMM.

Answer 41

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM.

Question 42

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the pot______ of reducing RMM.

Answer 42

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM.

Question 43

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of re___ing RMM.

Answer 43

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM.

Question 44

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing R__.

Answer 44

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM.

Question 45

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The au_____ will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Answer 45

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Question 46

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is n__ relevant to the audit and no determination will be made as to whether it has been implemented.

Answer 46

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Question 47

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not re______ to the audit and no determination will be made as to whether it has been implemented.

Answer 47

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Question 48

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no det________ will be made as to whether it has been implemented.

Answer 48

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Question 49

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been imp________ed.

Answer 49

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Question 50

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and n_ determination will be made as to whether it has been implemented.

Answer 50

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Question 51

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control to determine whether it has the potential of reducing RMM. If n__, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Answer 51

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Question 52

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is not reducing RMM, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Answer 52

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is not reducing RMM, the control is not relevant to the audit and no determination will be made as to whether it has been implemented.

Question 53

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can det_______ if the control has been implemented and if it is operating as it was designed only by performing a walk through.

Answer 53

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through.

Question 54

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been impl_______ed and if it is operating as it was designed only by performing a walk through.

Answer 54

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through.

Question 55

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is op______ing as it was designed only by performing a walk through.

Answer 55

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through.

Question 56

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was de____ed only by performing a walk through.

Answer 56

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through.

Question 57

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by per____ing a walk through.

Answer 57

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through.

Question 58

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a w___ through.

Answer 58

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through.

Question 59

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk thr____h.

Answer 59

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures If the control is reducing RMM, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through.

Question 60

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM If the control is NOT ____ing RMM, the control is NOT relevant to the audit and no determination will be made as to whether it has been implemented. If the control is re___ing RMM, the auditor can determine if the control has been IMPLEMENTED and if it is operating as it was designed only by performing a walk through.

Answer 60

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM If the control is NOT reducing RMM, the control is NOT relevant to the audit and no determination will be made as to whether it has been implemented. If the control is reducing RMM, the auditor can determine if the control has been IMPLEMENTED and if it is operating as it was designed only by performing a walk through.

Question 61

Walk Through - | This involves ap___ing some means other than inquiry,

Answer 61

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry,

Question 62

Walk Through - | This involves applying some means other than in____y,

Answer 62

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry,

Question 63

Walk Through - This involves applying some means other than inquiry, such as ob_____ng the control being applied,

Answer 63

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied,

Question 64

Walk Through - This involves applying some means other than inquiry, such as observing the control being ap__ied,

Answer 64

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied,

Question 65

Walk Through - This involves applying some means other than inquiry, such as observing the con____being applied,

Answer 65

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied,

Question 66

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, per____ing analytical procedures

Answer 66

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures

Question 67

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing ana______ procedures

Answer 67

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results,

Question 68

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical pro______s to determine if the control is producing the appropriate results,

Answer 68

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results,

Question 69

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to de_______ if the control is producing the appropriate results,

Answer 69

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results,

Question 70

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the app_______ results,

Answer 70

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results,

Question 71

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate re____s,

Answer 71

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results,

Question 72

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the ins_______ of documents

Answer 72

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents

Question 73

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other i___s that will provide evidence that the control is in place.

Answer 73

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 74

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide ev________ that the control is in place.

Answer 74

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 75

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will pro_____ evidence that the control is in place.

Answer 75

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 76

Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in p____.

Answer 76

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Walk Through - This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 77

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially eva_____ the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Answer 77

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 78

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from in_____ies, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Answer 78

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 79

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no det________ will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Answer 79

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 80

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been imp_______ed and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Answer 80

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 81

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some m____s other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Answer 81

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 82

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as obs___ing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Answer 82

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor will initially evaluate the design of the control, usually based on information derived from inquiries, to determine whether it has the potential of reducing RMM. If not, the control is not relevant to the audit and no determination will be made as to whether it has been implemented. If so, however, the auditor can determine if the control has been implemented and if it is operating as it was designed only by performing a walk through. This involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 83

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a w___ through provides information about the design and implementation of a control,

Answer 83

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control,

Question 84

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk thr_____ provides information about the design and implementation of a control,

Answer 84

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control,

Question 85

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the de____ and implementation of a control,

Answer 85

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control,

Question 86

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and impl_______ of a control,

Answer 86

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control,

Question 87

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a co____,

Answer 87

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control,

Question 88

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is n__ sufficient to determine if the control was operating effectively throughout the period being audited

Answer 88

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 89

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not suf______t to determine if the control was operating effectively throughout the period being audited

Answer 89

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 90

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to det_______ if the control was operating effectively throughout the period being audited

Answer 90

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 91

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the con____ was operating effectively throughout the period being audited

Answer 91

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 92

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was op____ing effectively throughout the period being audited

Answer 92

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 93

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating ef______ly throughout the period being audited

Answer 93

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 94

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively thr_____out the period being audited

Answer 94

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 95

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the pe____ being audited

Answer 95

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 96

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being a____ed

Answer 96

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited

Question 97

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to r__y on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Answer 97

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 98

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a b____ for modifying the nature, timing, and extent of further audit procedures.

Answer 98

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 99

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for m____ying the nature, timing, and extent of further audit procedures.

Answer 99

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 100

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the na____, timing, and extent of further audit procedures.

Answer 100

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 101

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further a____ procedures.

Answer 101

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 102

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit pro_____es.

Answer 102

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 103

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, t__ing, and extent of further audit procedures.

Answer 103

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 104

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and ex____ of further audit procedures.

Answer 104

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 105

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through pro____s information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Answer 105

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 106

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the au_____ intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Answer 106

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Question 107

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor in____s to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Answer 107

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Question 108

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to r___ on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Answer 108

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Question 109

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the con____ as a basis for modifying the nature, timing, and extent of further audit procedures,

Answer 109

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Question 110

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a b____ for modifying the nature, timing, and extent of further audit procedures,

Answer 110

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Question 111

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for m____ying the nature, timing, and extent of further audit procedures,

Answer 111

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures,

Question 112

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the au_____is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Answer 112

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 113

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is re____ed to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Answer 113

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 114

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to det_______ if the control was operating effectively throughout the affected period through the performance of tests of controls.

Answer 114

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 115

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the con____ was operating effectively throughout the affected period through the performance of tests of controls.

Answer 115

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 116

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was op_____ting effectively throughout the affected period through the performance of tests of controls.

Answer 116

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 117

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating ef_______ly throughout the affected period through the performance of tests of controls.

Answer 117

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 118

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively thr______out the affected period through the performance of tests of controls.

Answer 118

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 119

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected pe____ through the performance of tests of controls.

Answer 119

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 120

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the perf_______ of tests of controls.

Answer 120

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 121

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of t___s of controls.

Answer 121

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 122

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit pro_____es, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Answer 122

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 123

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the na____, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Answer 123

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures • If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 124

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures * While performing a walk through provides inf_______ about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures. * If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Answer 124

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures * While performing a walk through provides information about the design and implementation of a control, it is not sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures. * If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is required to determine if the control was operating effectively throughout the affected period through the performance of tests of controls.

Question 125

Walk through involves applying some means other than inquiry, such as: ob____ing the control being applied, per____ing analytical procedures to determine if the control is producing the appropriate results, or the ins________ of documents or other items that will provide evidence that the control is in place.

Answer 125

Walk through involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 126

What is 'walk through'?

Answer 126

Walk through involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 127

Walk through involves applying some means other than inquiry, such as: - observing the control - performing analytical procedures - the inspection of documents

Answer 127

Walk through involves applying some means other than inquiry, such as observing the control being applied, performing analytical procedures to determine if the control is producing the appropriate results, or the inspection of documents or other items that will provide evidence that the control is in place.

Question 128

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an und______ing of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Answer 128

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 129

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal co______l, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Answer 129

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 130

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control def______ies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Answer 130

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 131

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, we_______es in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Answer 131

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 132

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in int______ control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Answer 132

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 133

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow er___s to occur without the ability to identify and correct them on a timely basis.

Answer 133

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 134

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to oc___ without the ability to identify and correct them on a timely basis.

Answer 134

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 135

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might al___ errors to occur without the ability to identify and correct them on a timely basis.

Answer 135

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 136

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur with___ the ability to identify and correct them on a timely basis.

Answer 136

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 137

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to id___ify and correct them on a timely basis.

Answer 137

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 138

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and cor____ them on a timely basis.

Answer 138

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 139

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a t___ly basis.

Answer 139

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 140

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis. Identified def_______ies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Answer 140

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis. Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 141

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Id_____fied deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Answer 141

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 142

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be eva____ed to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Answer 142

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 143

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to det_______ if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Answer 143

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 144

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are si________t deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Answer 144

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 145

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or ma_____ weaknesses, both of which must be communicated to management and those charged with governance.

Answer 145

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 146

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant def______ies or material weaknesses, both of which must be communicated to management and those charged with governance.

Answer 146

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 147

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material we________es, both of which must be communicated to management and those charged with governance.

Answer 147

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 148

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be com________ed to management and those charged with governance.

Answer 148

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 149

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which m___ be communicated to management and those charged with governance.

Answer 149

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 150

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, b___ of which must be communicated to management and those charged with governance.

Answer 150

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 151

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to m_________ and those charged with governance.

Answer 151

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 152

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis. Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with gov________.

Answer 152

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis. Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 153

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of ob____ing an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis. Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Answer 153

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures In the course of obtaining an understanding of internal control, the auditor may identify control deficiencies, weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis. Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 154

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The au____ makes a determination as to which procedures to apply when obtaining different aspects of the understanding.

Answer 154

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding.

Question 155

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a det________ as to which procedures to apply when obtaining different aspects of the understanding.

Answer 155

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding.

Question 156

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different as____s of the understanding.

Answer 156

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding.

Question 157

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which pro_____es to apply when obtaining different aspects of the understanding.

Answer 157

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding.

Question 158

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the und_______ing.

Answer 158

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding.

Question 159

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. Not a__ procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Answer 159

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 160

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. Not all pro_______s will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Answer 160

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 161

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will a___y to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Answer 161

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 162

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those sp____ied may also prove helpful to the auditor in identifying risks of material misstatement.

Answer 162

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 163

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also pr___ helpful to the auditor in identifying risks of material misstatement.

Answer 163

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 164

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove help___ to the auditor in identifying risks of material misstatement.

Answer 164

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 165

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in id_____ying risks of material misstatement.

Answer 165

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 166

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying r___s of material misstatement.

Answer 166

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 167

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor m___s a determination as to which procedures to apply when obtaining different aspects of the understanding. Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Answer 167

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement.

Question 168

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. N__ all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement. These other procedures may include re____ing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Answer 168

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement. These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 169

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These ot___ procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Answer 169

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 170

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing infor______ from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Answer 170

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 171

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from ex______ sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Answer 171

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 172

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making in_____ies of parties outside the entity but with the cooperation of the entity.

Answer 172

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 173

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties out____ the entity but with the cooperation of the entity.

Answer 173

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 174

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the co________ of the entity.

Answer 174

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 175

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the e____y.

Answer 175

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 176

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement. These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Answer 176

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor makes a determination as to which procedures to apply when obtaining different aspects of the understanding. Not all procedures will apply to each aspect and procedures other than those specified may also prove helpful to the auditor in identifying risks of material misstatement. These other procedures may include reviewing information from external sources, or making inquiries of parties outside the entity but with the cooperation of the entity.

Question 177

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowl_____ obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures.

Answer 177

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures.

Question 178

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is u__d to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures.

Answer 178

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures.

Question 179

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Id_____y the types of potential misstatements (Errors or Fraud).

Answer 179

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud).

Question 180

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the t___s of potential misstatements (Errors or Fraud).

Answer 180

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud).

Question 181

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of pot______ misstatements (Errors or Fraud).

Answer 181

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud).

Question 182

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential miss________s (Errors or Fraud).

Answer 182

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud).

Question 183

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Er___s or Fraud).

Answer 183

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud).

Question 184

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fr___).

Answer 184

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud).

Question 185

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Con_____ factors that affect the risk of material misstatements.

Answer 185

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements.

Question 186

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Consider fa____s that affect the risk of material misstatements.

Answer 186

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Consider factors that affect the risk of material misstatements.

Question 187

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Consider factors that af____ the risk of material misstatements.

Answer 187

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Consider factors that affect the risk of material misstatements.

Question 188

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Consider factors that affect the r___ of material misstatements.

Answer 188

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Consider factors that affect the risk of material misstatements.

Question 189

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Consider factors that affect the risk of ma______ misstatements.

Answer 189

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Consider factors that affect the risk of material misstatements.

Question 190

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * De____ tests of controls and substantive procedures.

Answer 190

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures.

Question 191

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design t___s of controls and substantive procedures.

Answer 191

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures.

Question 192

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of con____s and substantive procedures.

Answer 192

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures.

Question 193

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and subst_____ procedures.

Answer 193

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures.

Question 194

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive proc_____res.

Answer 194

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures.

Question 195

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of ob____ing an understanding of internal control sufficient to plan the audit,

Answer 195

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit,

Question 196

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an un_______ing of internal control sufficient to plan the audit,

Answer 196

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit,

Question 197

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control suf_______ to plan the audit,

Answer 197

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit,

Question 198

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to p___ the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Answer 198

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Question 199

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the au___,

Answer 199

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit,

Question 200

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should eva______ whether the client’s programs and controls

Answer 200

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls

Question 201

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s pro____s and controls

Answer 201

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls

Question 202

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and co_____s that address the identified risks of material misstatement due to fraud

Answer 202

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud

Question 203

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that ad______ the identified risks of material misstatement due to fraud

Answer 203

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud

Question 204

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the id____ied risks of material misstatement due to fraud have been suitably designed and implemented.

Answer 204

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Question 205

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified r___s of material misstatement due to fraud

Answer 205

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud

Question 206

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of ma_____ misstatement due to fraud

Answer 206

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud

Question 207

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fr___ have been suitably designed and implemented.

Answer 207

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Question 208

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been su____ly designed and implemented.

Answer 208

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Question 209

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably de____ed and implemented.

Answer 209

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Question 210

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and imp_______ed.

Answer 210

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Question 211

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • De____ tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Answer 211

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented.

Question 212

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Det_______ if these have been Implemented (Placed into operation).

Answer 212

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation).

Question 213

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Imp______ed (Placed into operation).

Answer 213

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation).

Question 214

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Pl___d into operation).

Answer 214

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation).

Question 215

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into ope_____).

Answer 215

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation).

Question 216

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Und_______ing doesn't require evaluating their operating effectiveness.

Answer 216

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 217

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't req____ evaluating their operating effectiveness.

Answer 217

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 218

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require eva____ing their operating effectiveness.

Answer 218

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 219

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their op_____ing effectiveness.

Answer 219

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 220

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating eff________ss.

Answer 220

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 221

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and subs________ procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Answer 221

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 222

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The kn________ obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Answer 222

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 223

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk ass________ procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Answer 223

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 224

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Id______y the types of potential misstatements (Errors or Fraud). * Con_____ factors that affect the risk of material misstatements. * De____ tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Answer 224

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 225

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures. o As part of ob____ing an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Det_____ if these have been Implemented (Placed into operation). ▪ Und______ing doesn't require evaluating their operating effectiveness.

Answer 225

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: * Identify the types of potential misstatements (Errors or Fraud). * Consider factors that affect the risk of material misstatements. * Design tests of controls and substantive procedures. o As part of obtaining an understanding of internal control sufficient to plan the audit, the auditor should evaluate whether the client’s programs and controls that address the identified risks of material misstatement due to fraud have been suitably designed and implemented. o Determine if these have been Implemented (Placed into operation). ▪ Understanding doesn't require evaluating their operating effectiveness.

Question 226

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud). • Consider factors that affect the risk of material misstatements. • Design tests of controls and substantive procedures. o The auditor should evaluate whether the client’s programs and controls have been suitably designed and implemented. o Determine if these have been Implemented

Answer 226

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud). • Consider factors that affect the risk of material misstatements. • Design tests of controls and substantive procedures. o The auditor should evaluate whether the client’s programs and controls have been suitably designed and implemented. o Determine if these have been Implemented

Question 227

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this un_______ing is to identify those controls that might reduce the risk of misstatements.

Answer 227

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements.

Question 228

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to id_____y those controls that might reduce the risk of misstatements.

Answer 228

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements.

Question 229

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those con____s that might reduce the risk of misstatements.

Answer 229

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements.

Question 230

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the r___ of misstatements.

Answer 230

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements.

Question 231

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the au_____ believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Answer 231

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 232

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these co______s can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Answer 232

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 233

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be r__ied upon, tests of controls will be performed to evaluate their operating effectiveness.

Answer 233

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 234

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, t___s of controls will be performed to evaluate their operating effectiveness.

Answer 234

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 235

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of con____s will be performed to evaluate their operating effectiveness.

Answer 235

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 236

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be per____ed to evaluate their operating effectiveness.

Answer 236

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 237

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to eva____ their operating effectiveness.

Answer 237

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 238

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their op____ing effectiveness.

Answer 238

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 239

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating eff________ess.

Answer 239

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 240

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they pr___ effective, the auditor will be able to reduce substantive testing.

Answer 240

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce substantive testing.

Question 241

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove eff______, the auditor will be able to reduce substantive testing.

Answer 241

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce substantive testing.

Question 242

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to red___ substantive testing.

Answer 242

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce substantive testing.

Question 243

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce sub_______ testing.

Answer 243

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce substantive testing.

Question 244

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce substantive t___ing.

Answer 244

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The goal of this understanding is to identify those controls that might reduce the risk of misstatements. If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce substantive testing.

Question 245

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the au_____ is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Answer 245

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 246

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to dete_______ what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Answer 246

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 247

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what co_____s have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Answer 247

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 248

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been impl______ed (are being used), and is not determining whether the controls have been operating effectively.

Answer 248

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 249

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being u__d), and is not determining whether the controls have been operating effectively.

Answer 249

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 250

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is n__ determining whether the controls have been operating effectively.

Answer 250

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 251

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not det_______ing whether the controls have been operating effectively.

Answer 251

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 252

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the con____s have been operating effectively.

Answer 252

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 253

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been ope___ing effectively.

Answer 253

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 254

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating ef______ly.

Answer 254

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 255

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the au_____ is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Answer 255

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively.

Question 256

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only ne_______y in a financial statement audit if the auditor plans to rely on the controls.

Answer 256

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Question 257

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the con____s have been operating effectively - is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Answer 257

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating effectively - is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Question 258

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures De______ing whether the controls have been operating effectively - is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Answer 258

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating effectively - is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Question 259

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating effectively - is only necessary in a fi_______ statement audit if the auditor plans to rely on the controls.

Answer 259

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating effectively - is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Question 260

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating effectively - is only necessary in a financial statement audit if the au_____ plans to rely on the controls.

Answer 260

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating effectively - is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Question 261

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating effectively - is only necessary in a financial statement au___ if the auditor plans to rely on the controls.

Answer 261

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating EFFECTIVELY - is only necessary in a financial statement audit if the auditor plans to RELY on the controls.

Question 262

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating EFFECTIVELY - is only necessary in a financial statement audit if the auditor plans to r___ on the controls.

Answer 262

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating EFFECTIVELY - is only necessary in a financial statement audit if the auditor plans to RELY on the controls.

Question 263

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating EFFECTIVELY - is only necessary in a financial statement audit if the auditor p___s to RELY on the controls.

Answer 263

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating EFFECTIVELY - is only necessary in a financial statement audit if the auditor plans to RELY on the controls.

Question 264

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating EFFECTIVELY - is only necessary in a financial statement audit if the auditor plans to RELY on the con____s.

Answer 264

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Determining whether the controls have been operating EFFECTIVELY - is only necessary in a financial statement audit if the auditor plans to RELY on the controls.

Question 265

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been imp______ed (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Answer 265

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls.

Question 266

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The au_____’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Answer 266

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 267

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main co______ is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Answer 267

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 268

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific co______ prevents, detects, and corrects material misstatements in relevant assertions.

Answer 268

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 269

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and h__, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Answer 269

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 270

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control pre____s, detects, and corrects material misstatements in relevant assertions.

Answer 270

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 271

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, det___s, and corrects material misstatements in relevant assertions.

Answer 271

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 272

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and cor_____s material misstatements in relevant assertions.

Answer 272

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 273

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects ma______ misstatements in relevant assertions.

Answer 273

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 274

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material miss________s in relevant assertions.

Answer 274

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 275

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in rel_____ assertions.

Answer 275

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 276

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant ass______s.

Answer 276

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 277

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to det_______ what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Answer 277

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions.

Question 278

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the au_____ has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Answer 278

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 279

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main con____ is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Answer 279

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Question 280

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has g___ed an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Answer 280

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Question 281

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may de____ to assess the Risk of Material Misstatement high (not rely on internal control),

Answer 281

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Question 282

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an un________ing of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Answer 282

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Question 283

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control str_______, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Answer 283

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Question 284

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to ass___ the Risk of Material Misstatement high (not rely on internal control),

Answer 284

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control),

Question 285

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement h___ (not rely on internal control),

Answer 285

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not rely on internal control),

Question 286

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the R___ of Material Misstatement HIGH (not rely on internal control),

Answer 286

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not rely on internal control),

Question 287

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (n__ rely on internal control), in which case there is no point in determining whether the controls are effective.

Answer 287

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 288

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not r___ on internal control), in which case there is no point in determining whether the controls are effective.

Answer 288

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 289

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not rely on internal control), in which case there is no point in determining whether the controls are eff______.

Answer 289

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 290

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not rely on internal control), in which case there is no point in det_______ing whether the controls are effective.

Answer 290

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement HIGH (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 291

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the int______ control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Answer 291

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 292

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is n_ point in determining whether the controls are effective.

Answer 292

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 293

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no po___ in determining whether the controls are effective.

Answer 293

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 294

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Answer 294

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Notice, however, that the auditor is only trying to determine what controls have been implemented (are being used), and is not determining whether the controls have been operating effectively. The latter is only necessary in a financial statement audit if the auditor plans to rely on the controls. The auditor’s main concern is whether, and how, a specific control prevents, detects, and corrects material misstatements in relevant assertions. Once the auditor has gained an understanding of the internal control structure, they may decide to assess the Risk of Material Misstatement high (not rely on internal control), in which case there is no point in determining whether the controls are effective.

Question 295

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control str______ include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Answer 295

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 296

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior au___s * Reperformance * Inquiry * Inspection * Observation

Answer 296

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 297

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Answer 297

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 298

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Pr___ audits * Reperformance * Inquiry * Inspection * Observation

Answer 298

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 299

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperf_______ * Inquiry * Inspection * Observation

Answer 299

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 300

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * In_____y * Inspection * Observation

Answer 300

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 301

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Insp_____ * Observation

Answer 301

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 302

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Obs______

Answer 302

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 303

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The tec______s available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Answer 303

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 304

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain info______ about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Answer 304

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: * Prior audits * Reperformance * Inquiry * Inspection * Observation

Question 305

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Re____ing audit documentation that document the internal control structure of the client in prior years.

Answer 305

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years.

Question 306

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing au___ documentation that document the internal control structure of the client in prior years.

Answer 306

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years.

Question 307

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit docu________ that document the internal control structure of the client in prior years.

Answer 307

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years.

Question 308

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that docu____ the internal control structure of the client in prior years.

Answer 308

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years.

Question 309

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control str______ of the client in prior years.

Answer 309

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years.

Question 310

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in pr___ years.

Answer 310

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years.

Question 311

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years. • Rep__________ – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Answer 311

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years. • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 312

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Ap___ing the control that the client personnel presumably performed to determine if the procedure was performed properly.

Answer 312

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 313

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the con____ that the client personnel presumably performed to determine if the procedure was performed properly.

Answer 313

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 314

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client per______ presumably performed to determine if the procedure was performed properly.

Answer 314

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 315

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the cli___ personnel presumably performed to determine if the procedure was performed properly.

Answer 315

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 316

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably per____ed to determine if the procedure was performed properly.

Answer 316

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 317

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to det_______ if the procedure was performed properly.

Answer 317

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 318

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the pro_______ was performed properly.

Answer 318

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 319

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was per____ed properly.

Answer 319

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 320

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed pr_____ly.

Answer 320

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly.

Question 321

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly. • Inq____ – Asking management and other client personnel to describe the controls that they are currently using.

Answer 321

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly. • Inquiry – Asking management and other client personnel to describe the controls that they are currently using.

Question 322

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – A__ing management and other client personnel to describe the controls that they are currently using.

Answer 322

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using.

Question 323

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking ma________ and other client personnel to describe the controls that they are currently using.

Answer 323

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using.

Question 324

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and ot___ client personnel to describe the controls that they are currently using.

Answer 324

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using.

Question 325

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client per_______ to describe the controls that they are currently using.

Answer 325

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using.

Question 326

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to des____ the controls that they are currently using.

Answer 326

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using.

Question 327

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the con____s that they are currently using.

Answer 327

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using.

Question 328

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently u_ing.

Answer 328

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using.

Question 329

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using. • Insp______ – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Answer 329

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inquiry – Asking management and other client personnel to describe the controls that they are currently using. • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 330

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Ex____ing documents that are used in internal control, such as authorization forms and procedures manuals.

Answer 330

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 331

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining doc_____s that are used in internal control, such as authorization forms and procedures manuals.

Answer 331

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 332

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are u__d in internal control, such as authorization forms and procedures manuals.

Answer 332

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 333

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal con____, such as authorization forms and procedures manuals.

Answer 333

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 334

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as auth_________ forms and procedures manuals.

Answer 334

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 335

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization f___s and procedures manuals.

Answer 335

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 336

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and pro_____es manuals.

Answer 336

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 337

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures ma____s.

Answer 337

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 338

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals. • Obs_______ – Watching employees perform their jobs.

Answer 338

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals. • Observation – Watching employees perform their jobs.

Question 339

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Observation – W____ing employees perform their jobs.

Answer 339

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Observation – Watching employees perform their jobs.

Question 340

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Observation – Watching em____ees perform their jobs.

Answer 340

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Observation – Watching employees perform their jobs.

Question 341

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Observation – Watching employees per____ their jobs.

Answer 341

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Observation – Watching employees perform their jobs.

Question 342

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Observation – Watching employees perform their j__s.

Answer 342

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Observation – Watching employees perform their jobs.

Question 343

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the au_____ to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years. • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly. • Inquiry – Asking management and other client personnel to describe the controls that they are currently using. • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals. • Observation – Watching employees perform their jobs.

Answer 343

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years. • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly. • Inquiry – Asking management and other client personnel to describe the controls that they are currently using. • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals. • Observation – Watching employees perform their jobs.

Question 344

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Pr___ audits – Reviewing audit documentation that document the internal control structure of the client in prior years. • Reperf________ – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly. • Inq____ – Asking management and other client personnel to describe the controls that they are currently using. • Insp_______ – Examining documents that are used in internal control, such as authorization forms and procedures manuals. • Obse_______ – Watching employees perform their jobs.

Answer 344

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures The techniques available to the auditor to gain information about a client's internal control structure include: • Prior audits – Reviewing audit documentation that document the internal control structure of the client in prior years. • Reperformance – Applying the control that the client personnel presumably performed to determine if the procedure was performed properly. • Inquiry – Asking management and other client personnel to describe the controls that they are currently using. • Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals. • Observation – Watching employees perform their jobs.

Question 345

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the au_____ is initially interested in the form, but is ultimately interested in the substance of the controls.

Answer 345

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls.

Question 346

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially inte____ed in the form, but is ultimately interested in the substance of the controls.

Answer 346

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls.

Question 347

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the f___, but is ultimately interested in the substance of the controls.

Answer 347

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls.

Question 348

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ul______ly interested in the substance of the controls.

Answer 348

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls.

Question 349

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately int______ed in the substance of the controls.

Answer 349

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls.

Question 350

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the sub______ of the controls.

Answer 350

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls.

Question 351

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the co______s.

Answer 351

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls.

Question 352

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inq_____ and inspection will provide the auditor with information about controls that have been designed,

Answer 352

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed,

Question 353

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and ins_______ will provide the auditor with information about controls that have been designed,

Answer 353

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed,

Question 354

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will pro____ the auditor with information about controls that have been designed,

Answer 354

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed,

Question 355

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about con____s that have been designed,

Answer 355

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed,

Question 356

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been de____ed, but observation will reveal that these controls aren't actually being enforced by management.

Answer 356

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Question 357

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but obse_______ will reveal that these controls aren't actually being enforced by management.

Answer 357

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Question 358

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will re____ that these controls aren't actually being enforced by management.

Answer 358

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Question 359

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being en____ed by management.

Answer 359

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Question 360

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by ma________.

Answer 360

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Question 361

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is in_____ly interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Answer 361

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Question 362

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the sub____ce of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Answer 362

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Question 363

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, in_____y and inspe_____ will provide the auditor with information about controls that have been designed, but obs_______ will reveal that these controls aren't actually being enforced by management.

Answer 363

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management.

Question 364

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Obse_______ is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Answer 364

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 365

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially cri____ in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Answer 365

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 366

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is esp_____ly critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Answer 366

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 367

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in de______ing whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Answer 367

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 368

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether con____s involving segregation of duties are being implemented in practice, and not just in theory.

Answer 368

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 369

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving seg_______ of duties are being implemented in practice, and not just in theory.

Answer 369

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 370

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of d___es are being implemented in practice, and not just in theory.

Answer 370

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 371

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being impl_______ed in practice, and not just in theory.

Answer 371

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 372

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in pra______, and not just in theory.

Answer 372

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 373

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in th____y.

Answer 373

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 374

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the f___, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Answer 374

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 375

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inq___y and inspe_____ will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Answer 375

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 376

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Obse_______ is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Answer 376

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 377

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Answer 377

Obtain an Understanding of the Entity’s Internal Control Structure (AU-C 315) Step 1 – 1. Understand the Design of CRIME by performing Risk Assessment Procedures Keep in mind that the auditor is initially interested in the form, but is ultimately interested in the substance of the controls. Often, inquiry and inspection will provide the auditor with information about controls that have been designed, but observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory.

Question 378

To evaluate the implementation of a control means to determine whether a control is actually ___________ by the entity.

Answer 378

To evaluate the implementation of a control means to determine whether a control is actually being USED by the entity.

Question 379

What does it mean to evaluate the implementation of a control?

Answer 379

To evaluate the implementation of a control means to determine whether a control is actually being used by the entity.

Question 380

If the control is improperly designed, it may represent a _______________ in the entity’s internal control.

Answer 380

If the control is improperly designed, it may represent a material weakness in the entity’s internal control.

Question 381

What may cause a material weakness in the entity’s internal control?

Answer 381

If the control is improperly designed, it may represent a material weakness in the entity’s internal control.

Question 382

What are procedures that designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the risk of material misstatement of the financial statements?

Answer 382

What are procedures that designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the risk of material misstatement of the financial statements? Answer: The performance of risk assessment procedures. An auditor obtains an understanding of the entity and its environment, including its internal control (CRIME) through the performance of risk assessment procedures. These are procedures designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the risk of material misstatement of the financial statements.

Question 383

Provide a list of risk assessment procedures: * A_________ procedures * In________ of management and others within the entity * In_________ (of documents and records) * O__________ (the application of specific controls)

Answer 383

Risk assessment procedures include: * Analytical procedures (Using high level data) * Inquiries of management and others within the entity, including inquiries of internal auditors. * Inspection (of documents and records) * Observation (the application of specific controls)

Question 384

Provide a list of risk assessment procedures:

Answer 384

Risk assessment procedures include: * Analytical procedures (Using high level data) * Inquiries of management and others within the entity, including inquiries of internal auditors. * Inspection (of documents and records) * Observation (the application of specific controls)

Question 385

The performance of risk assessment procedures designed to provide the auditor with an __________________ to enable the auditor to effectively assess the risk of material misstatement of the financial statements.

Answer 385

The performance of risk assessment procedures designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the risk of material misstatement of the financial statements.

Question 386

The performance of risk assessment procedures designed to provide the auditor with an adequate understanding to enable the auditor to _________________ the risk of material misstatement of the financial statements.

Answer 386

The performance of risk assessment procedures designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the risk of material misstatement of the financial statements.

Question 387

The performance of risk assessment procedures designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the ____________________ of the financial statements.

Answer 387

The performance of risk assessment procedures designed to provide the auditor with an adequate understanding to enable the auditor to effectively assess the risk of material misstatement of the financial statements.

Question 388

In order to obtain info about an entity’s internal controls, if the auditor is a continuing auditor, he/ she should review _______________________.

Answer 388

In order to obtain info about an entity’s internal controls, if the auditor is a continuing auditor, he/ she should review prior period engagement files.

Question 389

When obtaining an understanding of controls that are relevant to the audit, the auditor may not rely exclusively on ________ to evaluate the design of those controls.

Answer 389

When obtaining an understanding of controls that are relevant to the audit, however, the auditor may NOT RELY exclusively on INQUIRIES to evaluate the design of those controls and to determine whether they have been implemented.

Question 390

If the design of the control has NO potential of _______________, the control is NOT RELEVANT to the audit.

Answer 390

If the design of the control has NO potential of reducing RMM, the control is NOT RELEVANT to the audit.

Question 391

If the design of the control has NO potential of reducing RMM, the control is _______________ to the audit.

Answer 391

If the design of the control has NO potential of reducing RMM, the control is NOT RELEVANT to the audit.

Question 392

What the auditor can determine if the design of the control has potential of reducing RMM? 1) if the control has been ___________ 2) if it is _______________________

Answer 392

If the design of the control has potential of reducing RMM the auditor can determine 1) if the control has been implemented 2) if it is operating as it was designed only by performing a walk through.

Question 393

What the auditor can determine if the design of the control has potential of reducing RMM?

Answer 393

If the design of the control has potential of reducing RMM the auditor can determine 1) if the control has been implemented 2) if it is operating as it was designed only by performing a walk through.

Question 394

What the auditor could perform in order to determine 1) if the control has been implemented and 2) if it is operating as it was designed ?

Answer 394

A Walk Through ---- If the design of the control has potential of reducing RMM the auditor can determine 1) if the control has been implemented 2) if it is operating as it was designed only by performing a walk through.

Question 395

A walk through provides information about the _______ and ______________ of a control.

Answer 395

A walk through provides information about the 1) design and 2) implementation of a control.

Question 396

A walk through provides information about ______________________ of a control.

Answer 396

A walk through provides information about the 1) design and 2) implementation of a control.

Question 397

A walk through provides information about the 1) design and 2) implementation of a control. A walk through is NOT sufficient to determine if the control was ____________ throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Answer 397

A walk through provides information about the 1) design and 2) implementation of a control. A walk through is NOT sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 398

A walk through provides information about the 1) design and 2) implementation of a control. A walk through is NOT sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a _________________ the nature, timing, and extent of further audit procedures.

Answer 398

A walk through provides information about the 1) design and 2) implementation of a control. A walk through is NOT sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 399

A walk through provides information about the 1) design and 2) implementation of a control. A walk through is NOT sufficient to determine:

Answer 399

A walk through provides information about the 1) design and 2) implementation of a control. A walk through is NOT sufficient to determine if the control was operating effectively throughout the period being audited or to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures.

Question 400

If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is REQUIRED to determine if the control was operating effectively throughout the affected period through the ___________________________.

Answer 400

If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is REQUIRED to determine if the control was operating effectively throughout the affected period through the PERFORMANCE of tests of controls.

Question 401

If the auditor intends to rely on the control as a _________________ the nature, timing, and extent of further audit procedures, the auditor is REQUIRED to determine if the control was operating effectively throughout the affected period through the PERFORMANCE of tests of controls.

Answer 401

If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is REQUIRED to determine if the control was operating effectively throughout the affected period through the PERFORMANCE of tests of controls.

Question 402

If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is REQUIRED to determine if the control was _______________ throughout the affected period through the PERFORMANCE of tests of controls.

Answer 402

If the auditor intends to rely on the control as a basis for modifying the nature, timing, and extent of further audit procedures, the auditor is REQUIRED to determine if the control was operating effectively throughout the affected period through the PERFORMANCE of tests of controls.

Question 403

The auditor can determine if the control was operating effectively through _________________________.

Answer 403

The auditor can determine if the control was operating effectively through the PERFORMANCE of tests of controls.

Question 404

What are control deficiencies?

Answer 404

Control deficiencies - weaknesses in internal control that might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 405

What are weaknesses in internal control?

Answer 405

Weaknesses in internal control might allow errors to occur without the ability to identify and correct them on a timely basis.

Question 406

What type of control deficiencies that auditor must communicate to management and those charged with governance? Significant deficiencies Material weaknesses

Answer 406

What type of control deficiencies that auditor must communicate to management and those charged with governance? Both Significant deficiencies and Material weaknesses Identified deficiencies will be evaluated to determine if they are significant deficiencies or material weaknesses, both of which must be communicated to management and those charged with governance.

Question 407

The knowledge obtained through risk assessment procedures is used to: • _________________ of potential misstatements (Errors or Fraud). • _______________ that affect the risk of material misstatements. • _______ tests of controls and substantive procedures.

Answer 407

The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud). • Consider factors that affect the risk of material misstatements. • Design tests of controls and substantive procedures.

Question 408

The knowledge obtained through risk assessment procedures is used to:

Answer 408

The knowledge obtained through risk assessment procedures is used to: • Identify the types of potential misstatements (Errors or Fraud). • Consider factors that affect the risk of material misstatements. • Design tests of controls and substantive procedures.

Question 409

Understanding if the controls have been implemented doesn't require evaluating their operating ____________.

Answer 409

Understanding if the controls have been implemented doesn't require evaluating their operating effectiveness.

Question 410

Understanding if the controls have been __________ doesn't require evaluating their operating effectiveness.

Answer 410

Understanding if the controls have been implemented doesn't require evaluating their operating effectiveness.

Question 411

Understanding if the controls have been implemented doesn't require evaluating their _______________________.

Answer 411

Understanding if the controls have been implemented doesn't require evaluating their operating effectiveness.

Question 412

If the auditor believes that these controls can be relied upon, _______________ will be performed to evaluate their operating effectiveness.

Answer 412

If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 413

If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their ___________________.

Answer 413

If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness.

Question 414

If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce __________________.

Answer 414

If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce substantive testing.

Question 415

If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove ________, the auditor will be able to reduce substantive testing.

Answer 415

If the auditor believes that these controls can be relied upon, tests of controls will be performed to evaluate their operating effectiveness. Assuming they prove effective, the auditor will be able to reduce substantive testing.

Question 416

What types of techniques (that help auditor gains information about a client's internal control structure) that provide information about design of internal controls?

Answer 416

What types of techniques (that help auditor gains information about a client's internal control structure) that provide information about design of internal controls? Inquiry Inspection Often, inquiry and inspection will provide the auditor with information about controls that have been designed, * Inquiry – Asking management and other client personnel to describe the controls that they are currently using. * Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 417

What types of techniques (that help auditor gains information about a client's internal control structure) that provide information about design of internal controls? * _________ – Asking management and other client personnel to describe the controls that they are currently using. * _________ – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Answer 417

What types of techniques (that help auditor gains information about a client's internal control structure) that provide information about design of internal controls? Inquiry Inspection Often, inquiry and inspection will provide the auditor with information about controls that have been designed, * Inquiry – Asking management and other client personnel to describe the controls that they are currently using. * Inspection – Examining documents that are used in internal control, such as authorization forms and procedures manuals.

Question 418

What types of techniques (that help auditor gains information about a client's internal control structure) that will reveal that these controls aren't actually being enforced by management?

Answer 418

What types of techniques (that help auditor gains information about a client's internal control structure) that will reveal that these controls aren't actually being enforced by management? Observation Observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory. • Observation – Watching employees perform their jobs.

Question 419

What types of techniques (that help auditor gains information about a client's internal control structure) that will reveal that these controls aren't actually being enforced by management? • _____________ – Watching employees perform their jobs.

Answer 419

What types of techniques (that help auditor gains information about a client's internal control structure) that will reveal that these controls aren't actually being enforced by management? Observation Observation will reveal that these controls aren't actually being enforced by management. Observation is especially critical in determining whether controls involving segregation of duties are being implemented in practice, and not just in theory. • Observation – Watching employees perform their jobs.