Chapter 1 Principles of auditing A state auditor is what type of auditor? What is information...
Chapter 1 Principles of auditing
A state auditor is what type of auditor?
What is information risk?
What is the purpose of an operational audit?
Sarbanes Oxley created which authoritative body? Does SOX apply to public and non public companies? Why was SOX created?
Homework Answers
Ans: * State auditors (also state comptrollers or state controllers) are executive officers of U.S. states who serve as auditors and comptrollers for state funds.
* Information technology or IT risk is basically any threat to your business data, critical systems and business processes. It is the risk associated with the use, ownership, operation, involvement, influence and adoption of IT within an organisation.
* The goal of the operational audit process is to determine whether the internal controls of the business, such as policies and procedures, are sufficient to produce an optimum level of efficiency and effectiveness.
* Yes, Sarbanes-Oxley created with authoritative body that is public company accounting Oversight board (PCAOB).
* SOX applies to all publicly traded companies in the United States as well as wholly-owned subsidiaries and foreign companies that are publicly traded and do business in the United States. SOX also regulates accounting firms that audit companies that must comply with SOX.
* The Act is designed to oversee the financial reporting landscape for finance professionals. Its purpose is to review legislative audit requirements and to protect investors by improving the accuracy and reliability of corporate disclosures.
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Chapter 1 Principles of auditing
A state auditor is what type of auditor?
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