You are auditing Gray Enterprises, a public company.During the audit, a material weakness was discovered during the audit of internal controls over financial reporting.Discuss how the auditors should handle this situation in the audit report and reference the appropriate PCAOB auditing standard.

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The Answer of You are auditing Gray Enterprises, a public company.During the audit, a material weakness was discovered during the audit of internal controls over financial reporting.Discuss how the auditors should handle this situation in the audit report and reference the appropriate PCAOB auditing standard.

You Are Auditing Gray Enterprises, a Public Company