All errors and irregularities,including trivial ones,should be reported to the audit committee.

Name: All errors and irregularities,including trivial ones,should be reported to the audit committee.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Not all errors and irregularities, especially trivial ones, need to be reported to the audit committee. Materiality and significance guide what should be reported; trivial matters may be handled internally without involving the audit committee.

All Errors and Irregularities,including Trivial Ones,should Be Reported to the Audit