Question
For each of the following independent situations, indicate the type of report on ICFR you would issue. Justify your report choice. a. The managements report
For each of the following independent situations, indicate the type of report on ICFR you would issue. Justify your report choice.
a. The managements report on ICFR issued by G.G, Inc., includes disclosures about corrective actions taken by the entity after the date of managements assessment and the entitys plans to implement new controls.
b. Merrill Cos management identified a material weakness prior to the as of date and implemented controls to correct it. Management believes that the new controls have been operating for a suffi cient period of time to determine that they are designed and operating effectively. However, Merylls auditor disagrees with the suffi ciency of the time period for testing the operating effectiveness of the controls.
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