Final answer:
Auditors indeed use program flowcharts to verify program logic, assess internal controls, and identify potential risks within a system. Hence, the statement is true.
Step-by-step explanation:
The statement that auditors may prepare program flowcharts to verify the correctness of program logic is true. The primary use of flowcharts by auditors is to understand complex processing systems and to assess the adequacy of internal controls.
Additionally, they can trace the flow of data through a system, identify potential points where errors or fraud could occur, and assess how the system safeguards against such risks.
Thus, flowcharts are valuable tools in the auditing process to ensure that program logic is correct and to evaluate the entire process for any weaknesses that need to be addressed.
Hence, the statement is true.