S1: There is a direct relationship between the entity's objectives and the internal control it implements to provide reasonable assurance about their achievement. S2: Control Environment is the foundation for effective internal control, providing discipline and structure. S3: Human Resource Policies and Procedures are management's approach to taking and managing business risks, attitudes and actions toward financial reporting, and attitudes toward information processing and accounting functions and personnel. S4: For audit purpose the auditor is concerned only with those risk that are relevant to the preparation of reliable financial statements Question 60Answer a. Only 1 statement is true b. 3 statements are true c. 2 statements are true d. All statements are true