Which of the following is most correct for audits of non-public companies?
A) an audit of internal control is required
B) an audit of internal control is not required
C) an audit of the design of internal controls is required
D) an audit of the operational effectiveness of internal controls is required

Question

Quizplus · Accepted Answer

Audits of non-public companies are not required to include an audit of internal control under generally accepted auditing standards (GAAS). However, the auditor may still choose to perform such an audit if it is deemed necessary or requested by the client.

Which of the Following Is Most Correct for Audits of Non-Public