Which of the following is not an element of management's assessment process for the effectiveness of internal control?
A)Identifying financial reporting risks and related controls.
B)Determining the locations and business units to include in the evaluation.
C)Evaluating evidence about the operating effectiveness of ICFR.
D)Obtaining the auditor's assessment of the internal control effectiveness.

Question

Quizplus · Accepted Answer

Obtaining the auditor's assessment of the internal control effectiveness is not a part of management's assessment process. It is the auditor's responsibility to evaluate the effectiveness of the internal control system based on management's assessment and perform additional procedures as necessary. The other choices are all elements of management's assessment process for the effectiveness of internal control.

Which of the Following Is Not an Element of Management's