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gyoku2302 gyoku2302
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2 weeks ago
Which of the following is an accurate statement regarding the auditor's responsibility for understanding internal control?

▸ Transaction-related audit objectives typically have no impact on the rights and obligations objectives.

▸ Transaction-related audit objectives typically have a significant impact on the balance-related audit objective of realizable value.

▸ Auditors generally emphasize internal control over account balances rather than classes of transactions.

▸ Auditors and management are both equally concerned about controls that affect the efficiency and effectiveness of company operations.
Textbook 

Auditing and Assurance Services


Edition: 17th
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juniorpjuniorp
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Transaction-related audit objectives typically have no impact on the rights and obligations objectives.

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