Q:

Which of the following is the most important reason for an auditor to gain an understanding of an audit client\'s system of internal control over financial reporting?

belongs to book: AUDITING & ASSURANCE SERVICES | A Systematic Approach|William F.Messier, Steven M.Glover, Douglas F. Prawitt|10th Edition| Chapter number:1| Question number:1.19

Ibrahimhamm

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2022-06-28

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Which of the following is the most important reason for an auditor to gain an understanding of an audit client's system of internal control over financial reporting?

understanding a client\'s system of internal control can help the auditor assess risk and identify areas where financial statement misstatements might be more likely
understanding a client\'s system of internal controls can help the auditor make valuable recommendations to management at the end of the engagement
understanding a client\'s system of internal control can help the auditor sell consulting services to the client
understanding a client\'s system of internal control is not a required part of the audit process

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Ibrahimhamm

2022-06-28

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A. understanding a client's system of internal control can help the auditor assess risk and identify areas where financial statement misstatements might be more likely

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