(Solution) - Assume that the auditor s tests of internal controls did not -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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Pages: 5 Words: 1375

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Assume that the auditor's tests of internal controls did not reveal any material weaknesses in controls. However, during the audit, a material misstatement in an important account was found. Does the auditor have to analyze the cause of the misstatement and report a material weakness in internal control? Explain your answer.