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When Performing an Internal Control Audit Under PCAOB Requirements,one or More

question 64

Multiple Choice

When performing an internal control audit under PCAOB requirements,one or more material weaknesses in internal control that exist at year-end will result in what type of report(s) ?
 Qualified  Adverse\begin{array} { c c c } & \quad\quad \text { Qualified } & \text { Adverse} \\\end{array}
A-  Yes  Yes \begin{array} { c c c } \quad\quad\quad\text { Yes } &\quad\quad\quad \text { Yes } \\\end{array}
B-  Yes  No \begin{array} { c c c }\quad\quad\quad \text { Yes } &\quad\quad\quad \text { No } \\\end{array}
C- No Yes \begin{array} { c c c } \quad\quad\quad\text {No} & \quad\quad\quad\quad\text { Yes } \\\end{array}
D-  No  No \begin{array} { c c c }\quad\quad\quad \text { No } &\quad\quad\quad\quad\text { No }\end{array}



Definitions:

Untapped Markets

Market segments or areas where a company's products or services have not yet been introduced or exploited.

Opportunity

A set of circumstances that makes it possible to do something or for something to happen, often leading to potential benefits or advancement.

Strategic Planning Team

A group of individuals from various departments within an organization responsible for developing long-term goals and strategies.

Mission Statement

Written explanation of an organization’s business intentions and aims.

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