Which of the following is the most significant disadvantage of using checklists to evaluate internal controls?
A. They require yes/no responses to specific questions, not open-ended responses.
B. They do not capture all controls that may exist.
C. They are useful in assessing risk.
D. They serve as a reminder of what controls should exist in a process.
Answer:B
Which of the following is the most significant disadvantage of using checklists to evaluate internal controls?
A. They require yes/no responses to specific questions, not open-ended responses. B. They do not capture all controls that may exist. C. They are useful in assessing risk. D. They serve as a reminder of what controls should exist in a process.