Management's Report Might Include Additional Information Other Than Their Assessment

question 71

Multiple Choice

Management's report might include additional information other than their assessment of the effectiveness of internal controls over financial reporting.The auditor should

• A)Review the information and comment appropriately in the auditor's report
• B)Request that management remove such information from their assessment
• C)Disclaim the information
• D)Include a paragraph in the auditor's report explaining that the additional information is apart from the assessment by management

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Definitions:

Producers' Decisions

The choices made by firms regarding the production, pricing, and distribution of goods and services.

Supply and Demand Curves

Graphical representations of the relationship between the prices and quantities of a good or service that suppliers are willing to offer and consumers are willing to purchase.

Equilibrium

A state in which demand and supply are balanced, often leading to a stable market condition.

Intersect

The point at which two or more lines, paths, or items meet or cross each other.