For each of the following independent situations, indicate the type of report on ICFR you would issue. Justify your report choice.
a. The management’s report on ICFR issued by Graham Granary, Inc., includes disclosures about corrective actions taken by the entity after the date of management’s assessment and the entity’s plans to implement new controls.
b. Meryll Company’s management identified a material weakness prior to the “ as of” date and implemented controls to correct it. Management believes that the new controls have been operating for a sufficient period of time to determine that they are designed and operating effectively. However, Meryll’s auditor disagrees with the sufficiency of the time period for testing the operating effectiveness of the controls.

  • CreatedSeptember 22, 2014
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