When assessing a company's internal control structure policies and procedures, the primary consideration is whether they
A)Prevent management override
B)Relate to the control environment
C)Reflect management's philosophy and operating style
D)Affect the financial statement assertions

Question

Quizplus · Accepted Answer

The primary consideration when assessing a company's internal control structure policies and procedures is whether they affect the financial statement assertions. This is because the main objective of internal controls is to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP).

When Assessing a Company's Internal Control Structure Policies and Procedures