S&H Associates has just performed an audit of Bob's Bikes.S&H was unable to obtain a written representation from management about internal control.Which of the following is true?
A) S&H must still assume that management has assessed the effectiveness of internal control.
B) Depending on other factors in the audit, S&H can still issue an unqualified opinion.
C) S&H should consider this situation a limitation on the scope of the audit.
D) Management does not need to give S&H a letter if they have disclosed all known internal control deficiencies.
Correct Answer:
Verified
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Q21: Which of the following is an advantage
Q22: Which of the following is least likely
Q26: Which of the following statements is false?
A)
Q28: Which of the following is not true?
A)The
Q30: Public reporting on the effectiveness of internal
Q30: The auditor is least likely to use
Q35: Management's written representations concerning internal control are
A)
Q37: In the context of an audit of
Q40: To obtain an understanding of significant processes
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