Choose the correct answer:

1.Which of the following statements correctly describes the topdown approach used during an audit of internal control over financial reporting?

A.Begin reviewing balance sheet accounts and then review income statement accounts.

B.Begin reviewing income statement accounts and then review balance sheet accounts.

C.Begin by understanding the overall risks to internal control over financial reporting at the financial statement level.

D.Begin by understanding the overall risks to internal control over financial reporting at the general ledger level.