Matters of Governance Interest That the Auditor May Wish to Discuss

question 59

Multiple Choice

Matters of governance interest that the auditor may wish to discuss with those charged with governance include:

• A) any practical difficulties encountered in performing the audit.
• B) the potential effect on the financial statements of any material risks and exposures.
• C) expected modifications to the audit report.
• D) all of the above.

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Definitions:

Little Information

A situation where there is a lack of sufficient or detailed data to fully understand a topic or make informed decisions.

Media

Various means of communication, including television, radio, newspapers, and the internet, used to disseminate information to the public.

Foreign Market

A market outside the domestic boundaries of a country where goods, services, and capital are traded.

Packaging

The technology and art of enclosing or protecting products for distribution, storage, sale, and use.