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Significant deficiencies in the operation

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Reference no: EM131167550

In an audit of financial statements in accordance with generally accepted auditing standards, an auditor is explicitly required to:

  1. Determine whether or not control procedures are suitably designed to prevent or detect material misstatements.
  2. Search for significant deficiencies in the operation of internal control.
  3. Document the auditor's understanding of the entity's internal control.
  4. Search for material weakness in the operation of internal control.

Reference no: EM131167550

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