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Unformatted text preview: The portfolio, which consisted of traded securities, had increased in market value by $5 million. Materiality for the audit was $10 million. As part of the audit, you must assess the operating effectiveness of controls related to the misstatement. Required: • What factors would you consider to determine if a deficiency, significant deficiency, or material weakness exists? • What additional information, if any, is needed to complete your assessment? • What, if any, communications would you be required to make to those charged with governance? Copyright 2009 Deloitte Development LLC All Rights Reserved....
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This note was uploaded on 01/20/2011 for the course ACC 603 taught by Professor Robertj.ramsay during the Spring '10 term at Kentucky.
- Spring '10