What does Auditing Standard No. 5, an Audit of Internal Control Over Financial Reporting That Is Integrated with an Audit of Financial Statements, require the auditor to understand about IT?
What will be an ideal response?
Answer: It requires the auditor to understand how IT affects the following:
1. The company's flow of transactions
2. Internal control over financial reporting
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Thailand's import restrictions on cigarettes: A) were justified under GATT article XI as protection of domestic agriculture
B) were justified in the interest of public health. C) were not justified under GATT article XI as protection of domestic agriculture. D) were not justified because they violated the principle of free trade.
Which of the following is not a condition for administrative employees to be exempt from overtime and minimum wage requirements under the FLSA?? A) ?Employee is compensated with a salary of not less than $455 per week
B) ?The primary duty is the performance of office work directly related to the management. C) ?The primary duty does not include general business operations with the firm's customers. D) ?Her/his primary duty includes the exercise of discretion