When Performing an Internal Control Audit Under PCAOB Standards, One

question 51

Multiple Choice

When performing an internal control audit under PCAOB standards, one or more material weaknesses in internal control that exist at year-end will result in what type of report(s) ? $$\begin{array} { | l | c | c | } \hline & \text { Qualified } & \text { Disclaimer } \\\hline \text { A. } & \text { Yes } & \text { Yes } \\\hline \text { B. } & \text { Yes } & \text { No } \\\hline \text { C. } & \text { No } & \text { Yes } \\\hline \text { D. } & \text { No } & \text { No } \\\hline\end{array}$$

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Win-Win Solution

A resolution to a dispute or negotiation that is beneficial to all parties involved.

Substance Goals

Goals in negotiation that are concerned with outcomes.

Negotiating

The process of discussing something formally in order to reach an agreement, often in a business or political context.

Distributive Negotiation

Negotiation in which each party makes claims for certain preferred outcomes.