Which of the Following Statements Is Correct Concerning an Auditor's

question 37

Multiple Choice

Which of the following statements is correct concerning an auditor's communication of internal control related matters (significant deficiencies) noted in an audit?

• A) The auditor may issue a written report to the audit committee representing that no significant deficiencies were noted during the audit.
• B) Significant deficiencies should be recommunicated each year, even if the audit committee has acknowledged its understanding of such deficiencies.
• C) Significant deficiencies that are material weaknesses should be reported separately from other significant deficiencies.
• D) The auditor may choose to communicate significant internal control-related matters either during the course of the audit or after the audit is concluded.

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Definitions:

Time Management

The skill of organizing and planning how to divide your time between specific activities efficiently.

Graphics

Visual images or designs on some surface, such as a wall, canvas, screen, paper, or stone, to inform, illustrate, or entertain.

Detailed Data

Data that provides in-depth and comprehensive information on a specific topic or subjects.

Nontraditional Student

A student who does not follow the traditional path of attending college immediately after high school, often older and possibly balancing education with other responsibilities.