Which of the following statements concerning the independent auditor's required communication of material weaknesses in internal control is correct? A. Although written communication is preferable, the auditor may communicate the findings orally. B. Weaknesse that had been reported in prior years' communications and have not been corrected need not be repeated in the current year's communication. C. If the auditor is not aware of any material weaknesses during the examination, that fact must be communicated. D. Weaknesses reported at interim dates must be repeated in the final communication
Which of the following statements concerning the independent auditor's required communication of material weaknesses in internal control is correct? A. Although written communication is preferable, the auditor may communicate the findings orally. B. Weaknesse that had been reported in prior years' communications and have not been corrected need not be repeated in the current year's communication. C. If the auditor is not aware of any material weaknesses during the examination, that fact must be communicated. D. Weaknesses reported at interim dates must be repeated in the final communication
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following statements concerning the independent auditor's required communication of material weaknesses in internal control is correct?
A. Although written communication is preferable, the auditor may communicate the findings orally.
B. Weaknesse that had been reported in prior years' communications and have not been corrected need not be repeated in the current year's communication.
C. If the auditor is not aware of any material weaknesses during the examination, that fact must be communicated.
D. Weaknesses reported at interim dates must be repeated in the final communication.
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