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

question 62

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) Incidental to the auditor's objective of forming an opinion as to the fair presentation of the financial statements.
• D) Required to be documented in a formal written report to the board of directors or the board's audit committee.

---

Definitions:

Growth And Change

The process of physical, emotional, or intellectual development and transformation over time.

Culture Changes

The process through which cultural beliefs, practices, and values are altered over time.

Lifespan Development

The study of how individuals grow, change, and adapt at different stages of life, from infancy through old age.

Nature-Nurture

A debate concerning the relative importance of an individual's innate qualities (nature) versus personal experiences (nurture) in determining or causing differences in physical and behavioral traits.