DeVry ACCT 444 Week 1-5 Complete Quizzes
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Carefully selecting and training employees<br />
3. (TCO 5) Management’s tests of operating effectiveness might include which of the following<br />
types of procedures? (Points : 3)<br />
Inspection of relevant documentation<br />
Inquiries of personnel<br />
Reperformance of the application of controls<br />
All of the above<br />
3. (TCO 5) Which of management’s concerns with respect to implementing internal controls is<br />
the auditor primarily concerned? (Points : 3)<br />
Efficiency of operations<br />
Reliability of financial reporting<br />
Effectiveness of operations<br />
Compliance with applicable laws and regulations<br />
4. (TCO 5) Internal controls can never be regarded as completely effective. Even if company<br />
personnel could design an ideal system, its effectiveness depends on the (Points : 3)<br />
adequacy of the computer system.<br />
proper implementation by management.<br />
ability of the internal audit staff to maintain it.<br />
competency and dependability of the people using it.
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