Question: When the potential misstatement magnitude related to a control failure is material and the likelihood of misstatement is reasonably possible or probable, how should the
When the potential misstatement magnitude related to a control failure is material and the likelihood of misstatement is reasonably possible or probable, how should the finding be characterized and reported?
Material weakness, Unqualified opinion on ICFR
Significant deficiency, Unqualified opinion on ICFR
Significant deficiency, Adverse opinion on ICFR
Material weakness, Adverse opinion on ICFR
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
