When auditing financial statements of a private company, the minimum work an auditor must perform in connection
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Question:
When auditing financial statements of a private company, the minimum work an auditor must perform in connection with a company's internal control is best described by which of the following statements?
a Determine whether the company's control policies are designed well enough to prevent material misstatements.
b Perform exhaustive tests of accounting controls and evaluate the company's control system effectiveness.
c Design procedures to search for significant deficiencies in the actual operation of the company's internal control.
d Prepare auditing working papers that document the auditor's understanding of the company's internal control.
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