31.Internal control should provide reasonable (but not necessarily absolute) assurance that the entity's objectives concerning reliability of financial reporting, effectiveness and efficiency or operations, and compliance with laws and regulations will be achieved. This means that

a.Internal control I management's not the auditor's responsibility

b.An assurance engagement about management's internal control assertions may not necessarily detect all significant internal control deficiencies

c.The cost of installing and implementing control activities should not exceed the benefits

d.There is always a risk that significant deficiencies in internal control may result in material financial statement misstatements