The acronym PERCV used for control objectives stands for how many assertions?
AThree
BFour
CFive
DSix
Answer & Solution
Correct answer: C. Five
PERCV lists presentation, existence, rights and obligations, completeness and valuation, which is five.
Keep practising Risk Assessment and Internal Control
Browse all Risk Assessment and Internal Control questions for CA Inter, or explore more Auditing topics.
Related questions
Sarbanes-Oxley fraud risk assessment focuses on what risk?Automating manual controls can help a business in which way?What do external audit standards most commonly used include?To whom do internal auditors of US listed companies report functionally?Which auditors are employed by the organizations they audit?Financial statements are said to be true and fair when they are free of what?What does an audit seek to provide about statements being free from material error?What is an integrated audit of a public company?