Dan and Steven, two new audit staff associates at Bailey CPA Firm, are discussing why it is important that auditors understand internal controls. Dan is unsure as to the importance of this, and asks Steven to explain further. Which of the following would be the most appropriate response to this question? There really isn't a connection between internal control and the actual audit performed by the external auditors. It simply allows the auditors to charge more money for the audit. Auditors concern themselves with a client's system of internal control because it helps the auditors to assess control and fraud risk, and also where potential misstatements in the financial statements may be. Auditors are concerned with control risk because if a client's system of internal control is weak, it may be more appropriate for the auditors to disclaim an opinion on internal control, and instead just focus on the financial statements. None of these answer choices are correct