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All True/False QuestionsAn advantage of preparing flow charts of transaction cycles relative to using internal control questionnaires is that the flow charts are tailored to client-specific circumstances.The auditor can appropriately document the understanding of internal control by using flow charts of transaction cycles, completing internal control questionnaires, or by preparing written memoranda.An advantage of preparing flow charts of transaction cycles relative to preparing written memoranda is that flow charts by nature are less likely to permit overlooking important internal control considerations.Management is responsible for designing and implementing the system of internal control.The auditor primarily obtains the required understanding of internal control by performing tests of control.A disadvantage of preparing written memoranda relative to using flow charts to document the auditor’s understanding of internal control is that such memoranda may be more difficult for supervisors to review.The primary purpose for obtaining an understanding of internal control is to determine the nature, timing, and extent of further audit procedures, including tests of control and substantive procedures.The auditor can appropriately document the understanding of internal control by using flow charts of transaction cycles, completing internal control questionnaires, or by preparing written memoranda.