While Performing an Audit on the Internal Controls Over Financial

question 6

Essay

While performing an audit on the internal controls over financial reporting for AirWaves Corporation, your audit team finds what it considers to be a significant deficiency. AirWaves is a large, private company. What steps would you take to communicate this finding?

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Definitions:

Forward Ratios

The gear ratios in a transmission that provide forward motion, influencing the vehicle's speed and acceleration.

Caterpillar CX28

A model of automatic transmission designed by Caterpillar, specifically developed for use in heavy-duty vehicles and equipment.

Continuously Variable

Describes transmissions that can change seamlessly through an infinite number of effective gear ratios, providing smooth acceleration.

Serial Communications Interface

A type of data transmission in which data is sent sequentially one bit at a time, often used in computer networks.