11-29 LO 7 Which of the following statements is false regarding obtain-
ing evidence about internal control operating effectiveness in the acquisition and payment cycle?
a. For integrated audits, the auditor will test the operating effec- tiveness of important controls as of the client’s year end.
b. The auditor will select controls that are important to the audi- tor’s conclusion about whether the organization’s controls ade- quately address the assessed risk of material misstatement in the acquisition and payment cycle.
c. Evidence of proper payment is not necessary for each purchase and payment, but is necessary for those that are material.
d. The auditor will take a sample of receiving reports and trace through the system to test controls related to the completeness assertion for accounts payable.