A material weakness that exists at year-end will result in what type of audit report on internal control?

Question

Quizplus · Accepted Answer

A material weakness in internal control over financial reporting is a significant deficiency or combination of significant deficiencies that results in a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis. The existence of a material weakness requires the auditor to issue an adverse opinion on the effectiveness of internal control over financial reporting.

A Material Weakness That Exists at Year-End Will Result in What