Which of management's assertions with respect to implementing internal controls is the auditor primarily concerned?
A)Efficiency of operations
B)Reliability of financial reporting
C)Effectiveness of operations
D)Compliance with applicable laws and regulations

Question

Quizplus · Accepted Answer

The auditor is primarily concerned with the reliability of financial reporting, as it is important to ensure that the financial statements prepared by management are accurate and truthful. This includes ensuring that internal controls are implemented effectively to identify and prevent any misstatements or errors in the financial statements. While efficiency, effectiveness, and compliance are also important, they are not the primary focus of the auditor's concern.

Which of Management's Assertions with Respect to Implementing Internal Controls