Question

An auditors report discovered several accounts with no activity for over 60 days. The accounts were later identified as contractors accounts who would be returning in three months and would need to resume the activities. Which of the following would mitigate and secure the auditors finding? Disable unnecessary contractor accounts and inform the auditor of the update. Reset contractor accounts and inform the auditor of the update. Inform the auditor that the accounts belong to the contractors. Delete contractor accounts and inform the auditor of the update.

Answer 1

To mitigate and secure the auditors finding, Inform the auditor that the accounts belong to the contractors.

Step-by-step explanation:

An audit report a document containing the auditor's opinion of whether a company's financial statements comply with Generally Accepted Accounting principles

The audit report validates a company's credit worthiness.

Every company should aim for at the worst case scenario, a clean or qualified opinion.

A qualified opinion means that although a company didn't follow the proper accounting standards, the company didn't do anything wrong.

Since an auditors report discovered the accounts with no activity, It is better to inform the auditor that it belongs to the contractors that will resume later than to alter the existing records.