Which of the following best describes the audit teams responsibility for communicating critical audit matters in the audit of an issuers financial statements?

Multiple Choice

• Communication of critical audit matters is required in circumstances when the auditors opinion on the financial statements is modified because of a departure from GAAP.

• Communication of critical audit matters is strictly prohibited without the clients consent.

• Communication of critical audit matters is optional and based on the issuers needs.

• Communication of critical audit matters is required in all audits.