Internal controls can never be considered as absolutely effective because:
A) controls are designed to prevent and detect only material misstatements.
B) internal controls prevent separation of duties.
C) not all organizations have internal audit departments.
D) their effectiveness is limited by the competency and dependability of employees.
Correct Answer:
Verified
Q2: Which of the following parties provides an
Q3: An act of two or more employees
Q4: Which section of the Sarbanes- Oxley Act
Q5: When management is evaluating the design of
Q6: Internal control reports issued by public companies
Q7: The auditor's tests to understand the client's
Q8: The initial presumption in the audit of
Q9: In the audit of a private company,
Q10: The auditor's consideration of a private company's
Q11: Which of the following factors may increase
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