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Statements on Auditing Standards
Auditing -- Standards -- United States; Disclosure in accounting; Corporations -- Auditing
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Required Communication Of Material Weaknesses In Internal Accounting Control; Statement On Auditing Standards, 020, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee
Required Communication Of Material Weaknesses In Internal Accounting Control; Statement On Auditing Standards, 020, American Institute Of Certified Public Accountants. Auditing Standards Executive Committee
Statements on Auditing Standards
This Statement establishes a requirement that the auditor communicate to senior management and the board of directors or its audit committee material weaknesses in internal accounting control that come to his attention during an examination of financial statements made in accordance with generally accepted auditing standards. Except for certain modifications to the form of report, this Statement does not address the subject of reporting to the public (investors and others who rely on published financial information) on a company's system of internal accounting control. Reports to the public on material weaknesses in the system are permitted by section 640 of …