[TheGuyCPA]

A report on internal control over compliance will include which of the following assertions?

A. An opinion as to whether internal controls were adequate to provide reasonable assurance that the organization would comply, in all material respects, to laws, rules, and regulations.

B. A disclaimer of opinion on internal controls over compliance.

Answer is B, The audit opinion states that the audit was conducted in order to express an opinion on compliance but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance.

The way this question was worded bugs the hell out of me.

FAR - 80
REG - 78
AUD - 88
BEC - 84

State of Illinois Licensed CPA as of September 2015

[taxgeek83]

Wording of the question aside, I would not have picked A anyway because of the phrase “would comply.” An audit over internal control might tell you if an organization has complied, but you can't reasonably ascertain what that organization will do in the future….

I might be misunderstanding that though. Audit always seemed kind of tricky that way.

[Author]

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