Each of the following are typical communications between the auditor and the audit committee. Explain why each is important.

● Auditor's responsibility under GAAS

● Overview and planned scope of the audit

● Auditor independence

● Significant accounting policies

● Management judgments and accounting estimates

● Significant audit adjustments

● Judgments about the quality of the company's accounting principles

● Other information in annual reports

● Disagreements with management

● Major issues discussed with management before retention

● Internal control over financial reporting