Mr. Sajid has recently completed his Chartered accountancy degree and now he is eligibleto be appointed as an external auditor by any firm. During his learning period he learnedthe following concepts regarding reviewing the internal control system of acompany as:
1. Internal control also exists in small organizations.
2. ICQ (Internal Control Questionnaire) and flow charts are types of internalcontrol system.
3. Internal control means a procedure to control the accountingmethodology as well as taking into consideration other control as well.
4. Audit planning affects the internal control system.
Required:
Analyze the above mentioned statements and give your opinion whether these statements areright or wrong.Just provide your answer as True or False in the given pattern:
1. -----True--------- (True / False)
2. -----True--------- (True / False)
3. -----False--------- (True / False)
4. -----False---------- (True / False)
No comments:
Post a Comment