ASA 315 states that the auditor shall obtain an understanding of internal control ________ to the audit.
A) relative
B) realistic
C) relevant
D) required

Question

Quizplus · Accepted Answer

ASA 315 specifies that the auditor must obtain an understanding of internal control relevant to the audit. This involves understanding the control environment, the entity's risk assessment process, the information system, including the related business processes, relevant to financial reporting, and control activities relevant to the audit, as well as the entity's processes for monitoring of controls.

ASA 315 States That the Auditor Shall Obtain an Understanding