Internal control being one of the major determinants of an organization's success requires the attention of every individual in an organization. A good internal control system will provide organizations with a high degree of confidence that their operations are efficiently managed. There are advantages and disadvantages/limitations to be gained from effectively designed and implemented internal control. You are required to discuss five advantages and five disadvantages/limitations of internal controls. Question 5 (20 Marks) The statements that follow are with regard to evidence that is sufficient and appropriate. As a future auditor, you are required to indicate if you agree with each statement and provide reasons for your decisions: 1. An auditor can only properly measure the appropriateness and sufficiency of audit evidence that will be used when expressing opinions are by utilising statistical sampling method only when they are gathering evidence. 2. The conduction of an audit in prior years for an entity will not have any influence when the auditor is determining if the evidence gathered is sufficient and appropriate for the current audit. 3. The level of professional scepticism that the auditor possesses is a factor that that has an influence on the appropriateness and sufficiency of audit evidence. 4. When the auditor is making a decision on whether or not sufficient and appropriate evidence has been obtained they will first need to make considerations regarding the sufficiency of the evidence gathered