Question: An auditor identified a material weakness in December. The client was informed and corrected it shortly after the as of date (December 31); the auditor
An auditor identified a material weakness in December.
The client was informed and corrected it shortly after the
“as of date” (December 31); the auditor agrees that the correction eliminates the material weakness as of January 31.
The appropriate report under a PCAOB Standard 5 audit of internal control is
a. Adverse.
b. Unqualified.
c. Unqualified with explanatory language relating to the material weakness.
d. Qualified.
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