Internal Control Communication - Non Issuer vs Integrated Flashcards Preview

Audit Simulation > Internal Control Communication - Non Issuer vs Integrated > Flashcards

Flashcards in Internal Control Communication - Non Issuer vs Integrated Deck (8):
1

Identified Control Deficiency

Non Issuer - Inform Management (oral or written) within 60 Days of Report Release Date

Integrated Audit - Same as non issuer except must be in writing

2

Identified Significant Weakness

Non Issuer - Inform Management and Corporate Governance in writing within 60 Days of Report Release date

Integrated Audit - Same as Non Issuer except must be by report date

3

Identified Material Weakness

Non Issuer - Inform Management and Corporate Governance in writing within 60 Days of Report Release date

Integrated Audit - Same as Non Issuer except due by Report Date

4

Indicate absence of significant Deficiencies

Non Issuer - Not Allowed

Integrated Audit - Not Allowed

5

No Material weaknesses identifies

Non Issuer - Permitted but not Required

Integrated Audit - Not Permitted

6

Description of Inherent Limitations of Internal Control

Non Issuer - Permitted but not Required

Integrated Audit - Required

7

Auditor does not express an opinion on the effectiveness of Internal Controls

Non Issuer - Required

Integrated Audit - Not Permitted

8

Restrict the use of communication to management, corporate governance, etc

Non Issuer - Required

Integrated Audit - Permitted but not Required