The auditor need NOT be concerned with all three areas of internal control that apply to management.The auditor's primary concerns are with the system's ability to:
A) ensure reliability of financial reporting.
B) provide reliable data, safeguard assets, and comply with the Corporations Act.
C) promote efficiency and encourage adherence to policy.
D) provide reliable data and promote efficiency.

Question

Quizplus · Accepted Answer

The auditor's primary concern is to ensure the reliability of financial reporting, which is essential for providing accurate and valid financial statements. While the other areas of internal control (safeguarding assets and promoting efficiency/adherence to policy) are also important, they are not the auditor's primary focus.

The Auditor Need NOT Be Concerned with All Three Areas