Which of the following is not considered by the PCAOB as an indicator of the existence of a material…


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Which of the following is not considered by the PCAOB as an indicator of the existence of a material… 1 answer below » Which of the following is not considered by the PCAOB as an indicator of the existence of a material weakness in internal control? a. Identification of a material fraud committed by senior management in the areas of sales. b. Restatement of previously issued financial statements to reflect correction of a material misstatement relating to improper inventory valuation. c. Identification by the auditor of a material misstatement in cost of goods sold in circumstances that indicate that the misstatement would not have been detected by the company’s internal control. d. Lack of oversight by the View complete question » Which of the following is not considered by the PCAOB as an indicator of the existence of a material weakness in internal control? a. Identification of a material fraud committed by senior management in the areas of sales. b. Restatement of previously issued financial statements to reflect correction of a material misstatement relating to improper inventory valuation. c. Identification by the auditor of a material misstatement in cost of goods sold in circumstances that indicate that the misstatement would not have been detected by the company’s internal control. d. Lack of oversight by the audit committee of details of raw material purchases. View less » Jun 11 2014 04:17 PM

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