Exercise 10.13

themathkid's version from 2015-11-23 16:00


Question Answer
Deficiency that results in a reasonable possibility that a material misstatement of financial statements will not be prevented or detected on a timely basismaterial weakness
A deficiency in internal control over financial reporting that is less severe than a material weaknesssignificant deficiency
Tests of controls to obtain evidence that internal control over financial reporting has operated effectivelyaudit of internal control
Integrates an audit of internal control with an audit of financial statementsintegrated audit
Audit of IT controls IT audit
Tests of controls to assess risk and substantive procedures to collect evidence regarding the accuracy, completeness, and validity of data produced by the accounting systemaudit of financial statements
Committee of Sponsoring Organizations of the Treadway CommissionCOSO