Which of the Following Statements Regarding Audit Findings Is

question 43

Multiple Choice

Which of the following statements regarding audit findings is ?

• A) A significant deficiency is a deficiency in internal control such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis.
• B) A material weakness is a deficiency in internal control important enough to merit attention by those charged with governance.
• C) A deficiency exists when the design or operation of a control does not allow management or employees to prevent, or detect and correct misstatements on a timely basis.
• D) All of the above are true.

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Definitions:

Experienced Nurse

A nurse who has gained a significant amount of practical experience and expertise in the nursing field through extensive work in healthcare settings.

Acute Care Hospital

A healthcare facility providing short-term treatment for severe injuries, illnesses, urgent medical conditions, or surgical care.

Hospital Philosophy

The set of values, principles, and beliefs that guide the mission, vision, and practices of a hospital, influencing its approach to healthcare delivery and patient care.

Active Part

Engagement in actions or activities that contribute to a process or outcome, often implying participation with effort or purpose.