Which of the following is true regarding the auditor's opinion on the effectiveness of internal control?
A) The auditor is attesting to the effectiveness of internal controls as of the end of the fiscal year.
B) If the client remedies a material weakness before the end of the fiscal year, the auditor must still issue a qualified opinion or a disclaimer of opinion.
C) A scope limitation requires the auditor to issues an adverse opinion.
D) Section 404 requires that the auditor design the audit to detect all deficiencies in internal control.

Question

Quizplus · Accepted Answer

The auditor's opinion on the effectiveness of internal control is based on their assessment of the controls in place as of the end of the fiscal year. They are not responsible for the effectiveness of controls at any other point in time.

Which of the Following Is True Regarding the Auditor's Opinion