In the US, SEC Chairman Levitt issued a report citing concerns with the audit process. These concerns included all of the following except:

Question

Quizplus · Accepted Answer

The correct answer is D because the concerns raised by SEC Chairman Levitt did not include that audit firms were thoroughly evaluating internal controls. Instead, the concerns were about inappropriate use of analytical procedures, non-compliance with professional standards in audit documentation, and ignoring warning signals of fraud, which implies that thorough evaluation of internal controls was likely not happening.

In the US, SEC Chairman Levitt Issued a Report Citing