When Management Chooses to Include Information in Its Report on ICFR

question 2

Multiple Choice

When management chooses to include information in its report on ICFR that is in addition to the information required to be provided,what should the auditor do?

• A)The auditor must endorse the information.
• B)The auditor must include the information as part of the opinion.
• C)The auditor will disclaim an opinion on that additional information.
• D)The auditor will present the information in a separate schedule in the footnotes.

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Definitions:

Corporation

A legal entity created by individuals, shareholders, or shareholders, with rights and liabilities distinct from those of its members, recognized as such under law.

Partnership

A business setup legally established by two or more partners who divide management duties and profits.

Consumer Cooperative

A type of cooperative that is owned and operated by its members, with the aim of reducing costs and/or improving the quality of goods and services.

Farm Cooperative

A group of farmers who pool their resources in certain areas of activity, aiming to increase their economic power and secure their livelihoods.