Please, in 2 pages answer this exercise.
Use the Text: “Auditing and Assurance Services, An Integrated Approach” . Arens/ Elder/ Beasley.
Please select 2 questions from each chapter and answer IN YOUR OWN WORDS, do not copy from the text.
CHAPTER 10:
1. List and explain the primary objectives of effective internal control.
2. Compare management versus auditor responsibilities related to internal control.
3. Explain the 5 components of the COSO internal control framework.
4. Explain the phases of a financial statement audit.
5. Explain the evaluating system for significant control deficiencies.
6. Explain the Learning Objective 8.
CHAPTER 11:
1. Explain Learning Objective 1.
2. Give some examples for the above question #1.
3. List some controls that reduce fraud risks.
4. Explain how you can detect fraud.
