When Management Chooses to Include Information in Its Report on ICFR

question 2

Multiple Choice

When management chooses to include information in its report on ICFR that is in addition to the information required to be provided,what should the auditor do?

• A)The auditor must endorse the information.
• B)The auditor must include the information as part of the opinion.
• C)The auditor will disclaim an opinion on that additional information.
• D)The auditor will present the information in a separate schedule in the footnotes.

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Definitions:

Scales Of Measurement

The systems used to categorize the nature of information that data provides, namely nominal, ordinal, interval, and ratio scales.

Nominal Scale

A scale of measurement used to categorize variables without providing any quantitative value or order.

Ratio Scale

A scale of measurement where there is a true zero and equal intervals, allowing for the comparison of magnitudes and the performance of mathematical operations.

Statistical Inference

The process of drawing conclusions about a population’s parameters based on a sample taken from the population.