When auditing financial statements of a nonissuer, the minimum work an auditor must perform in connection with a companys internal control is best described by which of the following statements?

Multiple Choice

Perform exhaustive tests of accounting controls and evaluate the companys control system effectiveness.

Determine whether the companys control policies are designed well enough to prevent material misstatements.

Prepare auditing working papers that document the auditors understanding of the companys internal control.

Design procedures to search for significant deficiencies in the actual operation of the companys internal control.