GK
PUBLIC ADMINISTRATION
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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“It is performed to ascertain the validity and reliability of information; also to provide an assessment of a system’s internal control".This statement refers to the ____ process of financial administration.
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Budgeting
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Planning
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Auditing
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Accounting
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Explanation:
Detailed explanation-1: -The auditor should form an opinion on the effectiveness of internal control over financial reporting by evaluating evidence obtained from all sources, including the auditor’s testing of controls, misstatements detected during the financial statement audit, and any identified control deficiencies.
Detailed explanation-2: -Management is responsible for establishing and maintaining an adequate system of internal control over financial reporting, including safeguarding of assets against unauthorized acquisition, use or disposition.
There is 1 question to complete.