Entity audit committee


Significant deficiencies are matters that come to an auditor's attention that should be communicated to an entity's audit committee because they represent :

A. Disclosures of information that significantly contradict the auditor's going concern assumption.

B. Material fraud or illegal acts perpetrated by high-level management.

C. Significant design flaws in internal controls or poor implementation of internal controls.

D. Manipulation or falsification of accounting records or documents from which financial statements are prepared.

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Accounting Basics: Entity audit committee
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