Auditing and Assurance Services, An Integrated Approach
Please, in 2 pages answer this exercise.
Use the Text: “Auditing and Assurance Services, An Integrated Approach” . Arens/ Elder/ Beasley.
# 6 CHAPTERS 10 & 11
Please select 2 questions from each chapter and answer IN YOUR OWN WORDS, do not copy from the text.
1. List and explain the primary objectives of effective internal control.
2. Compare management versus auditor responsibilities related to internal control.
3. Explain the 5 components of the COSO internal control framework.
4. Explain the phases of a financial statement audit.
5. Explain the evaluating system for significant control deficiencies.
6. Explain the Learning Objective 8.
1. Explain Learning Objective 1.
2. Give some examples for the above question #1.
3. List some controls that reduce fraud risks.
4. Explain how you can detect fraud.