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Which of the following matters is an auditor required to communicate to those charged with governance?
Suggested Answer: A
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Choice 'a' is correct. Yes - Yes. Unless all of those charged with governance are also involved with managing the entity, the auditor is required to communicate significant audit adjustments. The auditor is always required to communicate changes in significant accounting policies.
Choices 'b', 'c', and 'd' are incorrect, based on the above Explanation: .
25 comments · newest first
CL
Claribel
10 months ago
Option C seems like the right choice here!
MU
Muriel
11 months ago
Wait, are they really required to share all that info?
MA
Marshall
11 months ago
I thought they only needed to report fraud cases?
HO
Hortencia
11 months ago
Totally agree, it's crucial for transparency!
SH
Shawna
11 months ago
Auditors must communicate significant findings to governance.
AD
Adelina
12 months ago
I practiced a similar question last week, and I think it was about the auditor's responsibilities regarding fraud. Could that be relevant here?
BE
Bernardine
12 months ago
I feel like option C might be the right choice, but I can't recall the specifics about what needs to be communicated.
PA
Patrick
12 months ago
I remember a practice question where we discussed the importance of internal controls, so maybe that's related to this?
SI
Silvana
1 year ago
I think the auditor has to communicate significant findings, but I'm not sure if it's all the options listed.
SC
Scarlet
1 year ago
I'm a little confused by the wording of the question. I'll need to read it a few times and make sure I'm interpreting it correctly before answering.
BR
Brett
1 year ago
I've got a good feeling about this one. The image provides a helpful visual, and I'm confident I can apply my auditing knowledge to select the correct answer.
LE
Leota
1 year ago
Okay, let me think this through step-by-step. The question is asking about the auditor's communication responsibilities, so I'll need to focus on that area of the standards.
MA
Malissa
1 year ago
Hmm, I'm a bit unsure about this one. I'll need to carefully review the auditing standards to make sure I understand the specific requirements.
NE
Nelida
1 year ago
This question seems straightforward, I think I know the key matters the auditor must communicate to those charged with governance.
MA
Mary
1 year ago
I think navigation tabs might help users find their way better, especially since they can clearly label sections of the site.
BR
Brendan
2 years ago
I think the answer is Option D, because communication of uncorrected misstatements is a key responsibility of the auditor.
VI
Viola
2 years ago
I believe the answer is Option C, as communication of fraud is a crucial matter to be communicated to those charged with governance.
AL
Alfreda
2 years ago
I agree with Roosevelt, because communication of significant deficiencies in internal control is important.
RO
Roosevelt
2 years ago
I think the answer is Option A.
CL
Clemencia
2 years ago
Haha, I bet the auditor would love to communicate some of the funny typos and mistakes they find during the audit! 'Hey, did you see that the CEO listed their favorite snack as 'cheetos' instead of 'Cheetos'? Truly a matter of great significance!'
VE
Vernell
2 years ago
I agree with Vanda. The auditor has a responsibility to communicate relevant matters to the appropriate individuals or groups, and Option B covers that requirement.
VA
Vanda
2 years ago
Option B is the correct answer. The auditor is required to communicate significant matters related to the financial statement audit to those charged with governance.
LA
Lauran
2 years ago
Good to know. Thanks for the clarification.
TO
Tomas
2 years ago
Yes, you're right. The auditor must communicate significant matters to those charged with governance.
JE
Jesusita
2 years ago
I think it's Option B.