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Which of the following is one of the five basic tnanoal statement assertions when an internal auditor evaluates controls over financial reporting?
Correct Answer: C
One of the five basic financial statement assertions that an internal auditor evaluates when assessing controls over financial reporting is "existence or occurrence." This assertion verifies that assets, liabilities, and equity interests actually exist at a given date, and that recorded transactions have actually occurred during a given period. It ensures that the financial statements are not overstated through the inclusion of fictitious or erroneous items. References: * COSO Framework * PCAOB Auditing Standard No. 15: Audit Evidence