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Audit: Understanding the entity and its environment > Service Organization Reports > Flashcards

Service Organization Reports Flashcards

1
Q

Type One Report

A

Report on controls placed in operation (Not good)

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2
Q

Type two report

A

Type one report Plus test of operating effectiveness (supports reduction in assessed level of control risk)

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3
Q

If only type one report is available then audior

A

must disclaim an opinion on the operating effectiveness of the company’s controls

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Audit: Understanding the entity and its environment (9 decks)

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