Question: help Question 19 The auditor found a material weakness in the internal control system of the client company. He decided to write an adverse report
Question 19 The auditor found a material weakness in the internal control system of the client company. He decided to write an adverse report on ICFR. He should also write an adverse opinion of the client's financial statements True False Question 20 A significant deficiency is a control deficiency, or a combination of control deficiencies, in internal control over financial reporting that is expected to lead to a material misstatement in the financial statements True False Question 21 When the auditor finds a material weakness in ICFR and it is not corrected, he is required to report this issue: B) To management and audit committee C) Externally only D) All three: management, audit committee, and externally. A) To the management only Question 22 As the risk associated with control being tested increases, the external auditor should: A) Reduce detection risk, reduce materiality, increase sample, and collect more evidence. D) Increase dedication risk. C) Increase sample and collect more evidence. B) Reduce detection risk and Reduce materiality only
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