Question
You are auditing a mid-sized company. The CFO has
unilaterally overridden internal controls to expedite year-end closing. The company has weak segregation of duties. As per SA 240, what should be your response?Solution
As per SA 240, overriding controls is a strong fraud risk indicator. Auditor must respond by revising risk assessment and performing additional procedures, especially around journal entries and estimates.
Which of the following is NOT correctly matched?Â
Who was the Nawab of Awadh when Dalhousie annexed the kingdom in 1856?
In 1960, Olympics Milkha Singh participated and represented India, where did the Olympics held in that year?
A cube of volume 324 cm³ is molded into a cuboid whose length, width, and height are in the ratio 3: 2: 2. Find the length of the cuboid.
Under which climatic conditions do the late rite soils develop?
The ten per cent reservation in central government jobs under economically weakersections (EWS) category is available to the persons whose family inco...
Scissor style and Western Roll are the techniques used in:Â
Of the units mentioned in the options, which one is the largest as compared to the others?
Which of the following oceans is surrounded by the continent of North America and South America to the east?
Which of the following is added in the national income to obtain personal income of the households?
