Auditors are concerned with the effectiveness of internal controls for two main Reasons.
Firstly, weaknesses in internal control procedures can lead to a material misstatements in the financial information which may not be detected by the auditor. Secondly, effective internal control procedures provide assurance that misstatements will be detected by the client and may be relied upon by the auditor. This relaince helps facilitate a more efficient audit. The objectives of an accounting information system may differ from entity to entity, but most information systems have as an objective the provision of reliable information on a timely basis. Thus, internal controls will normally include control procedures that are designed to provide management with some degree of assurance that the information provided by the accounting information system is reliable and provided on a timely basis.