When considering internal controls,

A. auditors can ignore controls affecting internal management information.
B. auditors are concerned with the client's internal controls over the safeguarding of assets if they affect the financial statements.
C. management is responsible for understanding and testing internal control over financial reporting.
D. companies must use the COSO framework to establish internal controls.

The correct answer is B) auditors are concerned with the client's internal controls over the safeguarding of assets if they affect the financial statements.

Explanation:

Based on the theoretical concept, it can be said that the main scopes of a well structured system of internal controls are:

- Promote reliability and impartiality in the production of financial reports.

- Provide timely and easily accessible information, which allows efficient and effective conduction of business processes.

- Ensure compliance with internal processes and actions in general to the objectives of strategic planning, avoiding deviations from the guidelines.

- Safeguard the company's assets, supporting risk management and minimizing eventual financial losses caused by poor management.