Significant Deficiencies in Internal Control Are First Communicated by Auditors

question 68

Multiple Choice

Significant deficiencies in internal control are first communicated by auditors to the:

• A) Australian Securities Industry Commission (ASIC).
• B) chief executive officer.
• C) audit committee.
• D) board of directors.

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Definitions:

Behavior Modification

A therapeutic approach that seeks to change undesirable behaviors through reinforcement strategies.

Family Therapy

A form of psychotherapy that involves treating family problems by focusing on family dynamics and relationships as a way to improve psychological health.

Fundamental Assumption

A basic principle or belief that is accepted without proof and is foundational for a theoretical framework or system.

Placebo Effect

The phenomenon in which a person's symptoms can improve after receiving a treatment with no therapeutic value, due to the belief in the treatment's efficacy.