If There Are Deficiencies in Internal Controls Over Financial Reporting

question 44

Multiple Choice

If there are deficiencies in internal controls over financial reporting that result in material weaknesses,the auditor

• A)must express an adverse opinion on the company's internal control over financial reporting
• B)must express an adverse opinion on the company's internal control over financial reporting,unless there was a restriction in the scope of the audit
• C)may express an adverse opinion on the company's internal control over financial reporting,unless there was a restriction in the scope of the audit
• D)may express an adverse opinion on the company's internal control over financial reporting

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Definitions:

Self-Actualization

A psychological concept referring to the realization or fulfillment of one's talents and potentialities, especially considered as a drive or need present in everyone.

Full Human Potential

The realization of an individual’s complete capability and capacity for growth and development in all aspects of life.

Material Goods

Physical items that can be seen, touched, and owned, such as clothing, cars, and houses.

Management

Management involves the planning, organizing, leading, and controlling of an organization's resources to achieve specified goals efficiently and effectively.