1. Provide a comprehensive evaluation of the role of business knowledge in auditors’ professional judgement and the matters taken into consideration throughout the course of audit. 2. Why are internal...

1. Provide a comprehensive evaluation of the role of business knowledge in auditors’ professional judgement and the matters taken into consideration throughout the course of audit.

2. Why are internal controls so important within an organization?

3. Define ‘tone at the top’ or control environment.

4. Discuss the auditor’s understanding of control environment (internal and external).

5. Explain the relationship between the objectives an organization intends to achieve and the internal control components.