An Unqualified Public Company Audit Report on a Client's Internal

question 44

Multiple Choice

An unqualified public company audit report on a client's internal control over financial reporting which is not combined with the audit report on the financial statements is least likely to include which of the following sections?

• A)Opinion.
• B)Critical audit matters.
• C)Basis for opinion.
• D)The definition and limitations of internal control over financial reporting.

---

Definitions:

Marketable Securities

Financial instruments that can be quickly converted to cash at market value.

Monthly Standard Deviation

A statistical measure that quantifies the variability or volatility of returns over a monthly period.

Cash Limit

Typically refers to the maximum amount of cash or cash equivalent that a person or entity can withdraw or use under certain conditions.

Monthly Disburses

This refers to the amount of money a company pays out on a monthly basis, covering expenses such as salaries, utilities, and rent.