Auditing: Internal Control
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Assessing Controls Assume that you were given these five options to describe
the tone at the top:
? Excellent
? Moderate
? Indifferent
? Nonexistent
? Machiavellian (do whatever it takes)
Required
a. How would the auditor go about assessing which of the terms best describes
the tone at the top?
b. What effect would each label have on the preparation of a report on the quality
of a company's internal controls?
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Solution Summary
This solution talks about assessing accounting controls in detail. . It then advances ideas about how the auditor would go about assessing the tone at the top in terms of the five options. .
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a. How would the auditor go about assessing which of the terms best describes
the tone at the top?
If the control activities are such that they occur throughout the organization, at every level of the organization without exception and are in place every time a transaction takes place the auditor would rate these controls as excellent. These control measures should be such that they support the directives of the top management. These control measures should be such that they support the objectives of the company. If these objectives are not met completely then the assessment will be ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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