Question

Which of the following statements is correct about an auditor's required communication with management and those charged with governance?

1) Any matters communicated to those charged with governance are also required to be communicated to the entity's management.
2) The auditor is required to inform those charged with governance about significant errors discovered by the auditor and subsequently corrected by management.
3) The auditor does not have any requirement to communicate with anyone outside of management.
4) Weaknesses in internal control previously reported to those charged with governance are required to be communicated to those charged with governance after each subsequent audit until the weaknesses are corrected.

Answer 1

The correct statement about an auditor's required communication is that weaknesses in internal control must be reported until they are corrected.

Step-by-step explanation:

The correct statement about an auditor's required communication with management and those charged with governance is option 4) Weaknesses in internal control previously reported to those charged with governance are required to be communicated to those charged with governance after each subsequent audit until the weaknesses are corrected. This means that the auditor is obligated to inform those charged with governance of any weaknesses in the internal control system that were previously communicated to them, and this communication should continue after each subsequent audit until the weaknesses are addressed and corrected.