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Author Question: When determining what type of report to issue on internal control under Section 404, (Read 240 times)

0220521

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Question 1

What type of report is issued when one or more material internal control weaknesses exist?
◦ unqualified opinion
◦ disclaimer of opinion
◦ adverse opinion
◦ qualified opinion

Question 2

When determining what type of report to issue on internal control under Section 404,
◦ an adverse opinion on internal control must be given if any weaknesses in a key internal control is discovered.
◦ a scope limitation requires the auditor to disclaim an opinion on internal controls.
◦ if the auditor gives a qualified opinion on the financial statements, they must give a qualified opinion on internal controls.
◦ a scope limitation requires the auditor to express a qualified opinion or a disclaimer of opinion on internal controls.


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Marked as best answer by 0220521 on Aug 21, 2022

bmac98

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0220521

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Reply 2 on: Aug 21, 2022
YES! Correct, THANKS for helping me on my review


irishcancer18

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Reply 3 on: Yesterday
:D TYSM

 

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