The auditor finds material weaknesses in internal controls before year end. In these situations, the auditor must issue an adverse opinion in the audit report on internal controls, even if the auditor is able to test management's corrected controls before year-end.

Question

Quizplus · Accepted Answer

If the auditor is able to test management's corrected controls before year-end and concludes that the material weaknesses have been remediated, the auditor may not need to issue an adverse opinion on internal controls.

The Auditor Finds Material Weaknesses in Internal Controls Before Year