ACCA AA · Chapter 8 · Question 10 of 12
Under ISA 265, how must the auditor communicate significant deficiencies in internal control identified during the audit?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) In writing to those charged with governance on a timely basis
Explanation
ISA 265 requires significant deficiencies to be communicated in writing to those charged with governance on a timely basis, and also communicated to an appropriate level of management. Other deficiencies may be communicated to management in writing or orally. Control deficiencies are not reported in the auditor's report.
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