Multiple Choice
A ________ exists if one or more control deficiencies exist that are less severe than a material weakness, but are important enough to merit attention by those responsible for oversight of the company's financial reporting.
A) potential misstatement
B) significant weakness
C) significant deficiency
D) fraud symptom
Correct Answer:
Verified
Correct Answer:
Verified
Q77: An auditor traces the cost of sales
Q78: Which of the following represents a correct
Q79: A proper narrative of an accounting system
Q80: Which deficiency exists if a necessary control
Q81: It is generally possible for small companies
Q83: In the audit of a private company,
Q84: Flowcharts are harder to read and update
Q85: To issue an unqualified opinion on internal
Q86: When making a preliminary assessment of control
Q87: When the auditor attempts to understand the