The main goal of auditing internal control is Group of answer choices To allow the auditor to fix any internal control deficiencies. To form an opinion on the ability of internal controls to prevent fraud. To assure management that internal control is preventing all material misstatements on the financial statements. To evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.

Question

Business

Ivy Norris

13 August, 11:35

The main goal of auditing internal control is Group of answer choices To allow the auditor to fix any internal control deficiencies. To form an opinion on the ability of internal controls to prevent fraud. To assure management that internal control is preventing all material misstatements on the financial statements. To evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.

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Lauryn Howell · Answer 1

To evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.

Explanation:

In Accounting, an internal control is a mechanism, procedure, rule or policy designed by management to secure assets, promote efficiency, ensure accountability and prevent fraudulent behavior in an organization.

The main goal of auditing internal control is to evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.