Santa Monica College Auditor & Financial Report on Internal Control Questions
Question Description
please answer to the questions related to the auditing. I’m gonna attach my professor slides . one small paragraph is enough for each question please make them separate.
1)In which the auditors report on internal control over financial reporting would be modified?
2)What are the three goals of an internal control system according to the COSO report? Which of the three is most important to auditors? Explain the reason.
3)What are the primary reasons for conducting an evaluation of an audit clients internal control?
4)How does control risk affect the nature, timing, and extent of further audit procedures?
5)What is the purpose of risk assessment for an entity?
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