Items 1 through 6 are common questions found in internal control questionnaires used by auditors to obtain an understanding of internal control for owners’ equity. In using the questionnaire for a client, a “yes” response indicates a possible internal control, whereas a “no” indicates a potential deficiency. 1. Are all entries in the owners’ equity […]
Items 1 through 6 are common questions found in internal control questionnaires used by auditors to obtain an understanding of internal control for owners’ equity. In using the questionnaire for a client, a “yes” response indicates a possible internal control, whereas a “no” indicates a potential deficiency. 1. Are all entries in the owners’ equity […]
Items 1 through 7 are questions typically found in a standard internal control questionnaire used by auditors to obtain an understanding of internal control for notes payable. In using the questionnaire for a client, a “yes” response indicates a possible internal control, whereas a “no” indicates a potential deficiency. 1. Are liabilities for notes payable […]
Questions 1 through 9 are typically found in questionnaires used by auditors to obtain an understanding of internal control in the acquisition and payment cycle. In using the questionnaire for a client, a “yes” response to a question indicates a possible internal control, whereas a “no” indicates a potential deficiency. 1. Is the purchasing function […]
