Kaylee and Nicholas, two audit staff associates are working on an audit of JayTee Industries, Inc., a national provider of golf and dune buggies across the United States. Kaylee asks Nicholas if the auditors typically make any assumptions pertaining to a client$$s system of internal control. Which of the following represents Nicholas$$ best response to this question?

Kaylee and Nicholas, two audit staff associates are working on an audit of JayTee Industries, Inc., a national provider of golf and dune buggies across the United States. Kaylee asks Nicholas if the auditors typically make any assumptions pertaining to a client$$s system of internal control. Which of the following represents Nicholas$$ best response to this question?

a$)$ Internal control is typically tested by the internal audit function more so than the external auditors, as they are more familiar with areas of high risk in the client$$s operations.

b$)$ Generally accepted auditing standards require the external auditors to assess control risk at its highest level at the beginning of the audit, and make subsequent adjustments as necessary.

c$)$ The external auditors typically assess control risk at its lowest at the beginning of the audit, and adjust accordingly as the audit progresses.

Td$)$ he external auditors typically rely on the results of previous years audits and$/$or professional experience and judgment in forming a preliminary opinion on a client$$s system of internal control.