Business, 28.07.2021 01:00 22nathanieltimms

When communicating significant deficiencies in internal control noted in a financial statement audit of a nonissuer, the communication should indicate that A. The purpose of the audit was to report on the financial statements, not to provide assurance on internal control.
B. The deficiencies noted were not detected within a timely period by employees in the normal course of performing their assigned functions.
C. The expression of an unmodified opinion on the financial statements may be dependent on corrective follow-up action.
D. Fraud or errors may occur and not be detected because of the inherent limitations of internal control.

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