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NEW QUESTION: 1
HOTSPOT
Answer:
Explanation:
NEW QUESTION: 2
Not all misstatements will be material enough to affect the fair presentation of the financial statement. A material misstatement is one that the auditors determine would change or influence the option of a reasonable person relying on the financial statements for information. Ultimately, auditors must exercise judgment to assess materiality based on the qualitative nature of the misstatements and their quantitative extent. Materiality is also based on auditors' assessment of control risk levels in the organization. The following factors may influence the auditors' assessment of control risk EXCEPT:
A. Client policy regarding such matters as acceptable operating practices and codes of conduct
B. Assignment of responsibility and delegation of authority to deal with such matters asorganizational goals and objectives, operating functions, and regulatory requirements
C. Management's awareness or lack of awareness of applicable laws and regulations
D. None of these
Answer: D
NEW QUESTION: 3
A security engineer is employed by a hospital that was recently purchased by a corporation.
Throughout the acquisition process, all data on the virtualized file servers must be shared by departments within both organizations. The security engineer considers data ownership to determine:
A. the amount of data to be moved.
B. which users will have access to which data
C. when the file server will be decommissioned
D. the frequency of data backups.
Answer: B