ICl UT THe tllowing statements is true? A properly maintained internal control system reasonably assures that collusion among employees cannot occur. The establishment and maintenance of internal control is an important responsibility of the internal auditor. era An exceptionally strong internal control system is enough for the auditor to eliminate substantive procedures on a significant account balance. lanagement has primary responsibility to maintain adequate internal control over the entity's assets and records. 3. In which of the following situations is the auditor most likely to use a reliance strategy? A. ftransactions are recurring. B. For nonrecurring, unusual transactions. C. If control risk is very high. D. If the entity has a poorly-designed automated system. 4. Which of the following is not one of the 5 coso components of a company's internal control ystem? a.Control risk. The company's risk assessment process. c. Control activities. d. Control environment. 5. In which of the following situations would an auditor most likely use a reliance strategy? a. The company has been slow to update its IT system to reflect changes in billing practices b. The auditor hired an IT specialist whose report to the auditor reveals that the specialist did not perform sufficient procedures to allow the auditor to properly assess the effect of the IT system