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Why an external auditor should be concerned over internal control?
Wiki User
∙ 13y ago
Good internal controls tell the auditor that the accounting system has the integrity to make him believe that the information he obtains for the reports can be reasonably relied upon to present fairly the results of the company's operations and the balance of assets.
Wiki User
∙ 13y ago
An external auditor should be concerned over internal control because it helps ensure the accuracy and reliability of the financial statements. Weak internal controls increase the risk of errors or fraud going undetected, which could lead to misstated financial information. Assessing internal controls is essential for the auditor to determine the extent of their reliance on the company's systems and processes.
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Are people with internal or external locus of control healthier?
Individuals with an internal locus of control tend to have better health outcomes compared to those with an external locus of control. This is because they are more likely to take responsibility for their health behaviors and outcomes, while those with an external locus of control may feel less in control and therefore less likely to engage in healthy behaviors.
What is the difference between internal and external variables?
Internal variables are those that are within the control or influence of the system or entity being studied, while external variables are those that are outside of its control or influence. Internal variables are typically more easily manipulated in an experiment, while external variables are often more difficult to control for.
Likert scale questionnaire for measuring internal and external locus of control by Julian Rotter?
Assessment could include statements reflecting beliefs about control over one’s life (internal locus) and control by external forces (external locus). Participants rate their agreement on a scale from strongly disagree to strongly agree, indicating their perception of control. Scores are analyzed to determine the degree of internal versus external locus of control in individuals.
What is a locus of control and what is the difference between an internal and external locus of control?
Locus of Control refers to the extent to which individuals believe that they can control events that affect them. Individuals with a high internal locus of control believe that events result primarily from their own behavior and actions. Those with a high external locus of control believe that powerful others, fate, or chance primarily determine events. Those with a high internal locus of control have better control of their behavior and tend to exhibit more political behaviors than externals and are more likely to attempt to influence other people; they are more likely to assume that their efforts will be successful. They are more active in seeking information and knowledge concerning their situation than do externals. The propensity to engage in political behavior is stronger for individuals who have a high internal locus of control than for those who have a high external locus of control.
Discuss the nature and consequences of perceptual differences to emerge from the locus of control and Draw out implications for behavioral strategies used to cope with uncertainty in working life?
Perceptual differences arising from locus of control refer to how individuals attribute events to either internal factors (internal locus of control) or external factors (external locus of control). This can influence how individuals perceive and respond to uncertainty in working life. Those with an internal locus of control may exhibit greater agency and actively seek to cope with uncertainty through problem-solving and adaptability. On the other hand, individuals with an external locus of control may feel more helpless and may rely on external sources for guidance in coping with uncertainty. Understanding these differences can help tailor behavioral strategies, such as providing autonomy and fostering self-efficacy, to better support individuals in navigating uncertainty in the workplace.
What is the duty of an auditor?
Duties of internal auditor is to overview the internal control system in company to ensure sound internal control systems. Duty of external auditor is to examin the books of accounts and give verdict about true and fair nature of books of accounts.
Why is it necessary for auditors to assess internal internal control processes?
why is it necessary for the auditor to assess the internal contol processess
What are different ways to understand internal control over Inventories?
SAME HERE
What is external influenece?
Internal and External influences of a business there are many. Internal means things that the business can control.
What is external quality control program?
Internal QC is from within the organization; external is from outside...
How do audit committees use internal control to gain more understanding?
This question is a bit vague. If you mean how do they execute their responsibilities internally, they request company financial records from those in control of them, and audit them for compliance with federal regulations. They then have a mandate to report their findings to an external auditor.
What is politic?
control of internal and external affairs of the nation or its government:
Are people with internal or external locus of control healthier?
Individuals with an internal locus of control tend to have better health outcomes compared to those with an external locus of control. This is because they are more likely to take responsibility for their health behaviors and outcomes, while those with an external locus of control may feel less in control and therefore less likely to engage in healthy behaviors.
What is the difference between internal and external variables?
Internal variables are those that are within the control or influence of the system or entity being studied, while external variables are those that are outside of its control or influence. Internal variables are typically more easily manipulated in an experiment, while external variables are often more difficult to control for.
What has the author Judith Anne Hanna written?
Judith Anne Hanna has written: 'A critical evaluation of the literature of internal-external locus of control and a tentative hypothesis concerning the antecedents of internal-external control' -- subject(s): Control (Psychology), Internalization
How do you poo your pants?
Due to loss of control of internal/external anal sphincters.
What is the importance internal auditor for an organization?
We can understand the importance of an internal auditor by understanding internal auditing. Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.
