Auditors must communicate internal control "significant deficiencies" to:
A)The audit committee.
B)The shareholders.
C)The SEC.
D)The Federal Trade Commission.

Question

Quizplus · Accepted Answer

Auditors are required to communicate significant deficiencies in internal control to the audit committee, which is responsible for overseeing the financial reporting process. Shareholders and regulatory bodies may receive information about internal control deficiencies through various reports or filings, but the audit committee is the primary recipient of this information. The Federal Trade Commission is not typically involved in financial reporting and would not be relevant to this communication.

Auditors Must Communicate Internal Control "Significant Deficiencies" To