X hits on this document

Powerpoint document

Forensic Accounting, Forensic Techniques, and Fraud Detection Copyrighted 2001 D. Larry Crumbley, ... - page 125 / 352

1716 views

0 shares

1 downloads

0 comments

125 / 352

125

© D.L. Crumbley

Material Weaknesses

PCAOB provides several strong indicators that material weaknesses exist in internal controls:

Ineffective oversight of the company’s external financial reporting and internal control over financial reporting by the company’s audit committee.

Material misstatement in the financial statements not initially identified by the company’s internal controls.

Significant deficiencies that have been communicated to management and the audit committee but that remain uncorrected after a reasonable period of time.

Source: PCAOB Briefing Paper, Proposed Auditing Standards, October 7, 2003.

Document info
Document views1716
Page views1737
Page last viewedFri Dec 09 15:31:11 UTC 2016
Pages352
Paragraphs4554
Words31092

Comments