[smsingla]

Here is a question from Wiley

72. In an integrated audit. which must the auditor communicate in writing to management?

a. Only material weaknesses.

b. Material weaknesses and significant deficiencies.

c. Material weaknesses, significant deficiencies and other control deficiencies.

d. Material weaknesses, significant deficiencies, other control deficiencies. and all suspected and possible employee law violations.

Answer 72. (c) The requirement is to identify the information that must be communicated in writing to management. Answer

(c) is correct because in an integrated audit all material weaknesses, significant deficiencies, and other control deficiencies

must be reported to management. Answers (a) and (b) are incorrect because they are incomplete, Answer (d) is incorrect because “all suspected and possible employee law violations” need not be communicated.

BUT Ninja notes on page 34 says for Control Deficiency written report to management is not required

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[Quinacridone]

I'm pretty sure the Ninja notes are correct, only material and significant deficiencies have to be reported in writing. AU 325.4 says its just the material and significant ones that have to be reported in writing. I don't know of any other requirement. I don't remember my password for the AICPA authoritative literature, but if you want to know definitely, make a search in the AU-C section to see if there was any other update. I doubt it though because I believe this is mainly a PCAOB thing.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[Quinacridone]

I'm pretty sure the Ninja notes are correct, only material and significant deficiencies have to be reported in writing. AU 325.4 says its just the material and significant ones that have to be reported in writing. I don't know of any other requirement. I don't remember my password for the AICPA authoritative literature, but if you want to know definitely, make a search in the AU-C section to see if there was any other update. I doubt it though because I believe this is mainly a PCAOB thing.

REG - Nov 4, 2013: 88
FAR - Feb 27, 2014: 86
AUD - April 5, 2014: 91
BEC - May 6, 2014: 83

Florida CPA 24 July 2014
(Done in seven months - thank you Jesus!!)

[seattleacct]

I had it wrong the first time. Integrated PCAOB audit rules: https://pcaobus.org/standards/auditing/pages/auditing_standard_5.aspx

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[seattleacct]

I had it wrong the first time. Integrated PCAOB audit rules: https://pcaobus.org/standards/auditing/pages/auditing_standard_5.aspx

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[smsingla]

So for PCAOB, written communication is required but not for AICPA. Am i right?

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[smsingla]

So for PCAOB, written communication is required but not for AICPA. Am i right?

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[seattleacct]

I guess it really depends if it's a PCAOB audit or not. Integrated audits usually are for public companies.The ninja notes are correct under AICPA standards for internal control deficiencies, but incorrect under the rules for PCAOB integrated audits.

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[seattleacct]

I guess it really depends if it's a PCAOB audit or not. Integrated audits usually are for public companies.The ninja notes are correct under AICPA standards for internal control deficiencies, but incorrect under the rules for PCAOB integrated audits.

B:76
A:64, 73, 91!
R:77
F:76

CPAexcel, Wiley Test Bank, Ninja Audio & Notes

[smsingla]

Another question where I think Wiley and Ninja are contradicting each other.

In Ninja notes page 55, it says after the document completion date(60 days after the audit report is released), you can not delete any information.

But Wiley say it differently in this question

After the audit documentation completion date, the auditor

a. May not delete any audit documentation.

b. May not make changes in audit documentation.

c. May not add new information to audit documentation.

d. May make changes or deletions to audit documentation providing that the fact that alterations were made is documented.

(d) The auditor may make changes or deletions to audit documentation providing the fact that the changes were

made is documented.

According to Ninja, isn't (a) should be the right answer?

Reference to this Wiley book page no. is 247

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[smsingla]

Another question where I think Wiley and Ninja are contradicting each other.

In Ninja notes page 55, it says after the document completion date(60 days after the audit report is released), you can not delete any information.

But Wiley say it differently in this question

After the audit documentation completion date, the auditor

a. May not delete any audit documentation.

b. May not make changes in audit documentation.

c. May not add new information to audit documentation.

d. May make changes or deletions to audit documentation providing that the fact that alterations were made is documented.

(d) The auditor may make changes or deletions to audit documentation providing the fact that the changes were

made is documented.

According to Ninja, isn't (a) should be the right answer?

Reference to this Wiley book page no. is 247

REG 81
BEC 74,65,78
FAR 79
AUD 85 DONE!!!

[Anonymous]

Ninja notes are correct. Becker also says the same.. After Documentation completion date you may not delete any thing but any additions must be documented.

also for your earlier question, Becker says:

Nonissuer:

Control Deficiencies must be communicated to mgmt in writing within 60 days of report release date

Significant Deficiencies and material deficiencies to both mgmt and those charged with governance by report release date

Issuer:

Control Deficiencies must be communicated to mgmt in writing (does not give timing). Audit committee must be informed of this communication.

Significant Deficiencies and material deficiencies to both mgmt and audit committee. However material deficiencies must be communicated before the the issuance of report.

Hope this helps..

[Anonymous]

Ninja notes are correct. Becker also says the same.. After Documentation completion date you may not delete any thing but any additions must be documented.

also for your earlier question, Becker says:

Nonissuer:

Control Deficiencies must be communicated to mgmt in writing within 60 days of report release date

Significant Deficiencies and material deficiencies to both mgmt and those charged with governance by report release date

Issuer:

Control Deficiencies must be communicated to mgmt in writing (does not give timing). Audit committee must be informed of this communication.

Significant Deficiencies and material deficiencies to both mgmt and audit committee. However material deficiencies must be communicated before the the issuance of report.

Hope this helps..

[Author]

Replies