Question: Assuming your conclusion in Question 1 was a 'Material Weakness', how should this Material Weakness be reported for SOX 404? By whom, when and where?

Assuming your conclusion in Question 1 was a 'Material Weakness', how should this Material Weakness be reported for SOX 404? By whom, when and where? Select all correct responses. 8 a. The External Auditor must disclose in writing to Management and the company's Audit Committee all Material Weaknesses at the conclusion of their audit and will be reported within Item 1A and Item 9A of the company's 10K filing. b. The External Auditor must disclose in writing to Management and the company's Audit Committee all MaterialWeaknesses at the conclusion of their audit and will be reported within Item 1A and Item 9A of the company's 10K filing and they must issue an adverse opinion for their financial statement audit. c. Management must disclose in writing to the company's External Auditor and company's Audit Committee all MaterialWeaknesses when identified and will be reported within Item 1A and Item 9A of the company's 10K filing. d. Material Weaknesses need not be disclosed if Management has committed to remediating all weaknesses within 90 days of identification

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!