Which of the Following Is Not a Required Communication with the Audit

question 109

Multiple Choice

Which of the following is not a required communication with the audit committee?

• A)auditor's responsibility under GAAP.
• B)analytical review.
• C)audit adjustments.
• D)uncorrected misstatements.

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Definitions:

Available-For-Sale Investments

A classification for financial assets representing securities that are not classified as held-to-maturity or trading securities, marked to market with changes in value reflected in other comprehensive income.

Organizational Structure

The system that outlines how certain activities are directed in order to achieve the goals of an organization, including the roles, responsibilities, and authority of employees within the organization.

Consolidated Financial Statements

Financial statements that show the financial results and position of a parent entity and its subsidiaries as if the group were a single entity.

Parent Entity

A business entity that possesses a majority stake in one or more subsidiary companies.