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Which of the following is the most important reason for an auditor to gain an understanding of an audit client s system of internal control
Which of the following is the most important reason for an auditor to gain an understanding of an audit clients system of internal control over financial reporting?
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Understanding a clients system of internal control is not a required part of the audit process.
Understanding a clients system of internal control can help the auditor assess risk and identify areas where financial statement misstatements might be more likely.
Understanding a clients system of internal control can help the auditor make valuable recommendations to management at the end of the engagement.
Understanding a clients system of internal control can help the auditor sell consulting services to the client.
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