While it is important to maximize profits and optimize operational efficiency, this is not one of a financial statement auditor's major concerns.
It is not necessary that the chief accounting officer review all accounting transactions. Therefore, this is not one of a financial statement auditor's major concerns.
Internal control is a method, or process, that is carried out by an entity's board of directors, management, and other personnel, and designed to provide reasonable assurance that objectives in the following four categories will be achieved: (1) effectiveness and efficiency of operations; (2) reliability of financial reporting; (3) compliance with applicable laws and regulations; and (4) safeguarding of assets. The concerns of the financial statement auditor will relate to no. 2, reliability of financial reporting.
Corporate morale problems are not relevant to a financial statement audit.
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