The auditor is evaluating the most appropriate method to assess the internal control system of the company. The selected method should be widely…
CA Intermediate · Auditing and Ethics · MTP · January 2025
The auditor is evaluating the most appropriate method to assess the internal control system of the company. The selected method should be widely recognised for gathering information about the existence, operation, and efficiency of internal controls, while also minimizing the risk of oversight of important review procedures. Furthermore, the method should facilitate easier interim reviews of controls. Which method would be most appropriate for evaluating internal control based on the description provided above?
Suggested Answer and Working Notes:
Correct Answer: Option (A)
Internal Control Questionnaire
Topics: Risk Assessment and Internal Control
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