According to the text, each of the following is a main purpose for performing audit procedures except:
A) To obtain an understanding of the entity and its environment.
B) To test the operating effectiveness of controls.
C) To develop recommendations for the control system.
D) To detect material misstatements in the financial statements.
Answer: C) To develop recommendations for the control system.
You might also like to view...
The COSO Enterprise Risk Management Integrated Framework identifies four objectives necessary to achieve corporate goals. Objectives specifically identified include all of the following except
A) implementation of newest technologies. B) compliance with laws and regulations. C) effective and efficient operations. D) reliable reporting.
In the global watch industry, the success of the Swatch brand resulted in a manufacturing renaissance for Switzerland. In the strategic framework known as hypercompetition, Swatch's success is an example of interactions in which arena?
A) cost/quality B) timing and know how C) entry barriers D) deep pockets E) sporting events