Which of the Following Statements About Understanding Internal Control Is

Multiple Choice

Which of the following statements about understanding internal control is not true:

A) The auditor uses the knowledge of the system of internal control to design further audit procedures to collect evidence.
B) In the presence of a strong system of internal control, the auditor may choose to collect less evidence about transactions or balances.
C) In the audit of a private company, it is necessary to express an opinion on the system of internal control over financial reporting.
D) A thorough understanding of the system of internal control assists the auditor in identifying potential types of misstatements.
E) A thorough understanding of the system of internal control assists the auditor in understanding the risk of material misstatements.