Answered step by step
Verified Expert Solution
Question
1 Approved Answer
When performing an integrated audit for a public company subject to PCAOB standards, the audit team identified a control deficiency around unresolved differences in the
When performing an integrated audit for a public company subject to PCAOB standards, the audit team identified a control deficiency around unresolved differences in the reconciliation of goods received not invoiced from the subsystem to the general ledger. The control deficiency was later on remediated. What should the team do about this deficiency? Document the deficiency using the IL144 and communicate to management. Document the deficiency in the SOCD and communicate to management. Document the deficiency in the SOCD form and communicate in writing to the Audit Committee. Document the deficiency using the IL144 and communicate to the Audit committee
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started