PCAOB Guidance Does Not Identify Which of the Following Situations

question 24

Multiple Choice

PCAOB guidance does not identify which of the following situations as one in which the auditor will modify the audit report on ICFR effectiveness?

• A)When there is a restriction on the scope of the engagement.
• B)When there is other information contained in management's annual report on ICFR.
• C)When elements of management's annual report on internal control are incomplete or improperly presented.
• D)When the annual report includes a copy of the annual certification pursuant to Section 302 of the Sarbanes-Oxley Act.

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Definitions:

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of values from their average.

Volatility

Measures the degree of variation of a trading price series over time, typically used in financial contexts to indicate the risk of an investment.

Logic Rung Path

A path within a ladder logic diagram that shows the flow and processing of logic from one control element or condition to another.

Parallel Outputs

Outputs that are controlled simultaneously, often used in digital circuits to increase data transfer rates.