Prior to Issuing a Report on Internal Controls Over Financial

question 25

Multiple Choice

Prior to issuing a report on internal controls over financial reporting,an auditor is required to

• A) Perform procedures sufficient to identify all control deficiencies.
• B) Communicate to management, in writing, all control deficiencies previously included in written communication from the internal auditors.
• C) Communicate to management, in writing, all control deficiencies identified during the audit and inform the audit committee when such a communication has been made.
• D) Represent that no significant deficiencies were noted during the audit of internal control.

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Definitions:

Depressed Subjects

Individuals who are undergoing or have been through significant depressive episodes, marked by persistent feelings of sadness, loss of interest, and other emotional and physical symptoms.

Favorable Self-concepts

Positive beliefs or perceptions an individual holds about themselves, reflecting aspects like self-worth and competence.

Realistic Self-concepts

An individual's accurate and factual perception and understanding of their strengths, weaknesses, and character.

Taylor and Brown

Researchers known for their work in psychology, particularly on the positive illusions that people hold about themselves, their control over events, and their future.