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:

Diabetes Mellitus

A metabolic disorder characterized by high blood sugar levels over a prolonged period due to insulin production or action issues.

Diabetes Insipidus

A condition characterized by excessive thirst and excretion of large amounts of severely diluted urine, resulting from inadequate levels of antidiuretic hormone or the kidney's response to it.

Insulin

A hormone produced by the pancreas that allows cells to absorb glucose from the blood, thus lowering blood glucose levels.

Glucagon

A hormone produced by the pancreas that promotes the increase of blood glucose levels by stimulating the liver to break down glycogen into glucose.