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Internal Control is designed to provide reasonable assurance to achieve the entity's objectives related to financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations. It safeguards assets against unauthorized acquisition, use, or disposition, and may include controls relating to financial reporting and operating objectives.
Auditors should understand internal control relevant to the audit and the application of professional judgment. Most audit-related controls relate to financial reporting. But not all controls related to financial reporting are relevant to audits.
The auditor should evaluate the design of controls and determine whether they have been implemented by performing procedures in addition to inquiry of the entity's personnel.