Which of the following would most likely be included in a SEC 10K filing in which a material weakness in internal control exists? $$\begin{array}{l}
\begin{array} { l c c }
&\text { Financial Statement: } & \text { Internal Control }\
& \text { Audit Report} & \text { Audit Report } \
\text { A) } & \text { Unqualified } & \text { Adverse } \
\text { B) } & \text { Unqualified } & \text { Qualified } \
\text { C) } & \text { Qualified } & \text { Qualified } \
\text { D) } & \text { Adverse } & \text { Unqualified } \
\end{array}
\end{array}$$

Question

Which of the following would most likely be included in a SEC 10K filing in which a material weakness in internal control exists? $$\begin{array}{l}
\begin{array} { l c c } 
&\text { Financial Statement: } & \text { Internal Control }\
& \text { Audit Report} & \text { Audit Report } \
\text { A) } & \text { Unqualified } & \text { Adverse } \
\text { B) } & \text { Unqualified } & \text { Qualified } \
\text { C) } & \text { Qualified } & \text { Qualified } \
\text { D) } & \text { Adverse } & \text { Unqualified } \
\end{array}
\end{array}$$

Quizplus · Accepted Answer

A material weakness in internal control would result in an adverse opinion on the internal control audit report, but it may not necessarily affect the financial statement audit report, which could still be unqualified if the financial statements are fairly presented.

Which of the Following Would Most Likely Be Included in a SEC