Auditors typically rely on internal controls of their private company clients only as needed to complete the audit and satisfy Sarbanes-Oxley requirements O only if the controls are determined to be effective only if the client asks an auditor to test controls only if the controls are sufficient to increase control risk to an acceptable level

Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor
Section: Chapter Questions
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Auditors typically rely on internal controls of their private company clients
only as needed to complete the audit and satisfy Sarbanes-Oxley requirements O
only if the controls are determined to be effective O
only if the client asks an auditor to test controls
only if the controls are sufficient to increase control risk to an acceptable level
Transcribed Image Text:Auditors typically rely on internal controls of their private company clients only as needed to complete the audit and satisfy Sarbanes-Oxley requirements O only if the controls are determined to be effective O only if the client asks an auditor to test controls only if the controls are sufficient to increase control risk to an acceptable level
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