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

question 74

Multiple Choice

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

• A)Option A
• B)Option B
• C)Option C
• D)Option D

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Definitions:

Hazard

A potential source of harm or adverse health effect on a person or persons.

Shared-Property Ownership

An arrangement where two or more parties hold title to a property together, sharing rights and responsibilities.

Tenancy

A legal arrangement whereby an individual or entity occupies land or property rented from another, typically for a specified period under a lease.

Fee Simple Absolute

The highest form of property ownership, with unrestricted rights to use, dispose of, and inherit the property.