ICAEW ARF · Chapter 4 · Question 9 of 12
How should an auditor communicate significant deficiencies in internal control identified during an audit?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) In writing to those charged with governance on a timely basis
Explanation
Auditing standards require significant deficiencies to be communicated in writing to those charged with governance on a timely basis. Other deficiencies may be reported to management at an appropriate level. Control weaknesses do not by themselves modify the auditor's opinion, which concerns the financial statements.
More Internal control systems and IT controls MCQs
- Q11Which of the following controls best prevents unauthorised changes being made to a company's accounting software?
- Q12What is the main purpose of a walk-through test?
- Q1Which of the following is NOT a component of an entity's system of internal control?
- Q2Which of the following forms part of the control environment?
- Q3Which of the following is a detective control rather than a preventive control?