What is the impact of combining the auditor’s attestation report on management’s assessment of internal controls over financial reporting with the audit report on the financial statements?
Item 2-02 of Regulation S-X permits the auditor to combine the attestation report on management’s assessment on internal control with the auditor’s report on the financial statements. However, in determining whether to combine the reports, the auditor should take into account any issues that may arise if its audit report on the financial statements is expected to be reissued or incorporated by reference into a filing under the Securities Act.
Related Questions
- What is the impact of combining the auditor’s attestation report on management’s assessment of internal controls over financial reporting with the audit report on the financial statements?
- Must identified significant deficiencies be disclosed either as part of management’s report on internal control over financial reporting or elsewhere in a registrant’s periodic reports?
- Are there policies or principles established by the University of Florida regarding internal controls and financial management?
