The Auditor's Communication of Material Weaknesses in Internal Control for a Nonpublic

question 31

Multiple Choice

The auditor's communication of material weaknesses in internal control for a nonpublic company is:

• A)required to enable the auditor to state that the examination has been made in accordance with generally accepted auditing standards.
• B)the principle reason for studying and evaluating the system of internal controls.
• C)required even though the financial statement audit for private companies does not require an audit of the entity's system of internal control.
• D)required to be included as part of the audit opinion.

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Definitions:

Psychological Discomfort

Describes a state of emotional unease or distress often triggered by stressful situations, conflicts, or challenging thoughts and beliefs.

Painful Religious Ritual

A ceremonial act within some religions that involves enduring pain or discomfort, often seen as a form of spiritual discipline, devotion, or purification.

Social Contribution

The act of giving or doing something for the benefit of society or a community.

Sang And Prayed

Expression suggesting the act of singing and offering prayers, often in a religious or spiritual context.