[Anonymous]

In the audit of internal control if there is a significant deficiency, what is the opinion to be given? Unqualified or Adverse opinion?

[Anonymous]

Qualified except for…I think.

[Anonymous]

In internal control audit there are no qualified opinion.

[Anonymous]

LOL, sorry

CPA = Can't pass again.

[sbarkerACPA]

Make sure differentiate if integrated audit or just audit of I/C. If just an audit of I/C if significant deficiencies–>adverse opinion, qualified opinion is not allowed!!

BEC: 74;81
AUD: 77
REG: 71; 80
FAR: 78
License for CPA----APPROVED
CPA Class of 2013

[Anonymous]

Thanks for the help!

[Tootsie]

According to Becker, a material weakness (not a significant deficiency) in internal control results in an adverse opinion. This is true for both issuers and nonissuers. And for a significant deficiency in internal control, for nonissuers, the auditor communicates this to mgt and those charged with governance in writing, and for issuers, the auditor communicates this to audit committee in writing.

FAR - 76
AUD - 88!!! DONE!!!!!!!!
BEC - 76
REG - 77

never, never, never give up

[Sandra]

It depends on whether it is part of the F/S audit or just an audit of I/C.

IC is audited for a non-issuer only to determine the amount of substantive testing, unless the auditor is hiring to give an opinion on IC. If the latter a significant deficiency results in an adverse opinion.

[sbarkerACPA]

A voluntary engagement can be performed on whether I/C weakness continues to exist, an unqualified opinion can be issued if it has been determined that material weakness has been eliminated and no scope limitation has been placed

BEC: 74;81
AUD: 77
REG: 71; 80
FAR: 78
License for CPA----APPROVED
CPA Class of 2013

[Author]

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