Question: An auditor identified a material weakness in internal control in December. The client was informed and the client corrected the material weakness shortly after year-end
An auditor identified a material weakness in internal control in December. The client was informed and the client corrected the material weakness shortly after year-end (December 31); the auditor agrees that the correction eliminated the material weakness as of January 31. The appropriate audit report on internal control under PCAOB standards on reporting on internal control is:
Multiple Choice
-
Adverse.
-
Unqualified.
-
Unqualified with explanatory language relating to the material weakness.
-
Qualified.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
