For each internal control deficiency identified by the auditor, he or she should consider potential misstatements and any compensating controls.

Question

Quizplus · Accepted Answer

This statement is true. When an auditor identifies an internal control deficiency, they should consider the potential impact on the accuracy of the financial statements and any compensating controls that may exist to mitigate the risk of material misstatements.

For Each Internal Control Deficiency Identified by the Auditor, He