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Jones, CPA, is auditing the financial statements of Lighthouse Inc., a non-issuer and has identified weaknesses in Lighthouse's internal controls that are less severe than
Jones, CPA, is auditing the financial statements of Lighthouse Inc., a non-issuer and has identified weaknesses in Lighthouse's internal controls that are less severe than material weaknesses but important enough to merit attention by those charged with governance. (ie-significant deficiencies).Identify the appropriate action that Jones should take for each scenario.
Jones should make his report on the significant deficiencies available to the stockholders.
A.Always
B.Never
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