Which of the following statements is correct concerning an auditor's communication of internal control related matters (significant deficiencies)noted in an audit?
A) The auditor may issue a written report to the audit committee representing that no significant deficiencies were noted during the audit.
B) Significant deficiencies should be recommunicated each year, even if the audit committee has acknowledged its understanding of such deficiencies.
C) Significant deficiencies that are material weaknesses should be reported separately from other significant deficiencies.
D) The auditor may choose to communicate significant internal control-related matters either during the course of the audit or after the audit is concluded.

Question

Quizplus · Accepted Answer

The auditor may choose to communicate significant internal control-related matters either during the course of the audit or after the audit is concluded. While significant deficiencies should be brought to the attention of the audit committee, material weaknesses should be reported separately from other significant deficiencies. It is not necessary to recommunicate the same significant deficiencies each year if the audit committee has acknowledged its understanding of the deficiencies. Additionally, the auditor should not issue a written report representing that no significant deficiencies were noted if there were in fact significant deficiencies identified during the audit.

Which of the Following Statements Is Correct Concerning an Auditor's