urrent Attempt in Progress Ken, an audit manager assigned to the audit of Parkside LLC is discussing internal control with a new staff associate, Sandra. Sandra is keen to learn more about internal control and how effective it may or may not be. Which of the following responses from Ken would best help Sandra? So long as a client's system of internal control is designed properly and approved by the external auditors, then there is no concern of any misstatements in the financial statements. The audit of internal control is typically very expensive during the first year's integrated audit, but the cost is significantly less in future audits as the external auditor only performs minimal checks thereafter. Even with a robust system of internal control, there is still the possibility of misstatements due to management collusion or ineffective controls. Overall responsibility of a client's system of internal control falls upon the internal audit function. If the client does not have an internal audit function, responsibility falls upon the audit committee. eTextbook and Media