When Communicating with the Audit Committee and Management

question 62

Multiple Choice

When communicating with the audit committee and management,

• A) only material fraud and illegal acts are required by auditing standards to be communicated.
• B) all internal control deficiencies are required by auditing standards to be communicated.
• C) the communications should be made in a timely manner to allow those charged with governance to take appropriate actions.
• D) all communications with the audit committee and management must be in writing.

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Definitions:

Atomic Sentences

The simplest type of sentences in logic, containing no logical connectives and expressing a complete thought.

Truth Values

Represent the valuation in logic that indicates the truthfulness of a statement, typically classified as true or false.

Truth Table

A table in logic that calculates the outputs of logical expressions, taking into account each of their functional arguments.

Atomic Sentences

The most basic form of sentences in logic that do not include logical connectives and convey a full idea.