Question
Which of the following concerning the auditor's report on internal control over financial reporting is correct? Multiple Choice The auditor needs to state management's
Which of the following concerning the auditor's report on internal control over financial reporting is correct? Multiple Choice The auditor needs to state management's assessment of internal control over financial reporting, but does not necessarily need to comment on whether he or she agrees. The auditor's report contains an opinion on the effectiveness of internal control over financial reporting based on the auditor's independent work. In the report on internal control over financial reporting, the auditor can issue only a qualified or an unqualified opinion. An unqualified opinion is required if a material weakness is identified.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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