At a minimum,in order to comply with PCAOB AS 2201,an auditor of a public company that has material transactions processed by a service organization would have to request from the service organization
A)a description of its internal controls.
B)a type one service auditors' report.
C)a type two service auditors' report.
D)a Service Organization Control (SOC)3 report.

Question

Quizplus · Accepted Answer

According to PCAOB AS 2201, an auditor of a public company that has material transactions processed by a service organization would have to request a type two service auditors' report. This report provides the auditor with information regarding the design and operating effectiveness of the service organization's controls relevant to the internal control over financial reporting of the audited company. It is more extensive than a type one report as it also covers the operating effectiveness of controls over a period of time.

At a Minimum,in Order to Comply with PCAOB AS 2201,an