management's responsibility for internal control over financial reporting includes:

a. assessing material misstatements in the financial statements due to errors and fraud

b. ensuring the costs of control exceeds the risks they eliminate

c. designing and implementing effective internal controls

d. ensuring the fair presentation of the financial statements

when performing an audit, the auditor must obtain an understanding of the internal controls relevant to the audit. which of the controls below would be considered the least relevant to an audit?

a. the company performs monthly inventory counts to identify any missing items in a timely manner.

b. the CFO must approve any disbursements above a $25000 threshold.

c. The front entrance of the building is always locked and can only by unlocked when employees scan their access cards.

d. the controller performs a review of the amortization computation on a quaterly basis.