The most efficient means of gathering evidence about the internal control is to conduct a formal interview with knowledgeable managers and
A) Write a narrative description of each important control.
B) Prepare a flowchart illustrating the internal control.
C) Prepare a well-indexed file of audit documentation.
D) Use an internal control questionnaire.

Question

Quizplus · Accepted Answer

Using an internal control questionnaire is the most efficient means of gathering evidence about the internal control as it provides a standardized approach and allows for consistent comparisons across different departments and entities. It also helps to ensure that all necessary information is gathered and documented. Interviews and documentation are also important but may be more time-consuming and less comprehensive than using an internal control questionnaire. Flowcharts may be useful in illustrating processes, but may not identify all important controls.

The Most Efficient Means of Gathering Evidence About the Internal