As the audit of Bambridge LLC nears its conclusion, the audit partners are reviewing samples of the audit evidence gathered and key conclusions drawn by the managers who supervised the audit. One of the partners raises a question about the client's system of internal control over cash receipts and disbursements. The partner has asked you to locate and furnish appropriate information gathered as part of the audit pertaining to this area. Where is this information most likely to be located?

1)This information should be contained in the current year's audit file, because the client's system of internal control will have been reviewed as part of this audit.

20 This information is most likely to be stored in the permanent audit file, because a clients' system of internal control is not typically subject to change and should remain the same over the years.

3) This information is stored by the internal audit function per generally accepted auditing standards, as the responsibility for internal control rests with this function.

4) None of these answer choices are correct.