[Anonymous]

I am confused by Becker book regarding the days restriction for communication of deficiencies in internal control.

Non issuer communication ( control deficiency, significant deficiency, material weakness) should be mad within 60 days of the report release day.

How about issuer?

Could anyone please clarify it for me? Thank you!

[UM1868]

A public company will have a report on internal control. Deficiencies will be reported to the Audit Committee, no? Not totally sure.

Bec-76 (7/14)
Aud-81 (8/14)
Reg-82 (7/15)
Far- 82 (10/15)

Moral of the story, don't do your CPA while working in Big 4 Public Accounting.

[UM1868]

Significant deficiencies and Material Weaknesses are report to AC and Management.

Deficiencies are not required, but are reported to AC anyway.

Bec-76 (7/14)
Aud-81 (8/14)
Reg-82 (7/15)
Far- 82 (10/15)

Moral of the story, don't do your CPA while working in Big 4 Public Accounting.

[UM1868]

“7. The auditor might identify matters in addition to those required to be communicated by this standard. Such matters include control deficiencies identified by the auditor that are neither significant deficiencies nor material weaknesses and matters the company may request the auditor to be alert to that go beyond those contemplated by this standard. The auditor may report such matters to management, the audit committee, or others, as appropriate.”

Bec-76 (7/14)
Aud-81 (8/14)
Reg-82 (7/15)
Far- 82 (10/15)

Moral of the story, don't do your CPA while working in Big 4 Public Accounting.

[Author]

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