The Auditor Is Responsible for Communicating Significant Internal Control Deficiencies

question 123

Multiple Choice

The auditor is responsible for communicating significant internal control deficiencies to the audit committee, or those charged with governance. This communication

• A) may be oral or written.
• B) must be oral.
• C) must be written.
• D) must be oral via direct communication.

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Definitions:

American Big Business

Large-scale, corporate enterprises that emerged in the United States during the 19th and early 20th centuries, often characterized by monopolistic practices, significant economic power, and influence over government policies.

Defense Industry

An industry involved in the production of technology, equipment, and services for the purpose of national defense and security.

Office of War Mobilization

A U.S. government agency during World War II that coordinated all government agencies involved in the war effort.

Franklin Roosevelt

The 32nd President of the United States, serving from 1933 until his death in 1945, known for leading the U.S. through the Great Depression and World War II.