A Letter Issued on Significant Deficiencies Relating to an Entity's

question 869

Multiple Choice

A letter issued on significant deficiencies relating to an entity's internal control observed during an audit of the financial statements of a nonissuer should include a:

• A) Restriction on the use of the report.
• B) Description of tests performed to search for material weaknesses.
• C) Statement of compliance with applicable laws and regulations.
• D) Paragraph describing management's evaluation of the effectiveness of internal control.

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Definitions:

OS

Short for Operating System, it is the software that manages hardware resources and provides common services for computer programs.

Input Technology

Refers to the devices or methods used to enter data into a computer system or other machine, such as keyboards, mice, and touch screens.

Open-Source Software

Software made available in source-code form at no cost to developers.

Proprietary Software

Software that is owned by an individual or a company and is not freely available for use, modification, or sharing without permission.