AUD Final Review Flashcards
1
Q
Why did COSO prepare IC framework?
A
To help a business ASSESS IC
2
Q
What documentation does the predecessor provide fo review?
A
Results of audit procedures, risk assessment procedures
3
Q
What does an auditor do in the planning stage regarding materiality
A
Make a preliminary judgement of materiality
4
Q
What helps maintain more effective IC
A
Shift responsibility to lower mgmt
5
Q
A
