If Auditors Conclude the Company Did Not Maintain Effective ICFR

question 120

Multiple Choice

If auditors conclude the company did not maintain effective ICFR over the period under audit, it would mean the auditors discovered a/an _______ in the client's ICFR.

• A)material weakness
• B)audit risk
• C)reasonable assurance
• D)professional skepticism

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Definitions:

Percent Equivalent

A way to express a part of the whole number as a percentage.

Rounded

Adjusted to the nearest specified value, often to simplify numbers for ease of calculation or reading.

Decimal Equivalent

A decimal number that represents the fractional part of a whole.

Percent Equivalent

A way to express fractions or decimals as percentages.