Question

Match the terms as they relate to internal control and/or auditor reporting on internal control with the best description. Replies may be used more than once.

List of terms:

Adverse opinion

As of date

Complementary control

Control Deficiency

Detective control

Material weakness

None of the options apply

Preventive Control

Section 302 of the Sarbanes Oxley Act

Significant deficiency

1.	A control deficiency that allows more than a remote possibility of material misstatement
2.	A control deficiency that allows more than a reasonable possibility of material misstatement.
3.	A control deficiency that allows more than a probably possibility of material misstatement.
4.	A control designed to stop a misstatement from occurring.
5.	A control that is designed to identify errors or fraud after they have occurred.
6.	A control that functions with another to achieve the same objective.
7.	A weakness in the design or operation of a control.
8.	A weakness important enough to merit attention, but less severe than a material misstatement.
9.	Date audit report issued.
10.	Last day of the client's fiscal period.
11.	Opinion type issued when one or more significant deficiencies exist.
12.	Opinion type issued when one or more material weaknesses exist.
13.	Section of the Sarbanes-Oxley Act that requires each of a company's principal executives and financial officers to certify the financial and other information in quarterly and annual reports.
14.	Section of the Sarbanes-Oxley Act that requires the audit of internal control over financing reporting.
15.	Section of the Sarbanes-Oxley Act that requires the compilation of interim information.

Answer 1

Adverse opinion

12.

Opinion type issued when one or more material weaknesses exist.

As of date

10.	Last day of the client's fiscal period.

Complementary control

6.	A control that functions with another to achieve the same objective

control deficiency

7.	A weakness in the design or operation of a control.

Detective control

5.	A control that is designed to identify errors or fraud after they have occurred.

Material Weakness

3.	A control deficiency that allows more than a probably possibility of material misstatement.

Preventive control

4.	A control designed to stop a misstatement from occurring.

Section 302 of sarbanes-oxley act

13.	Section of the Sarbanes-Oxley Act that requires each of a company's principal executives and financial officers to certify the financial and other information in quarterly and annual reports.

Significant deficiency

8.	A weakness important enough to merit attention, but less severe than a material misstatement.

None of the options apply

1.	A control deficiency that allows more than a remote possibility of material misstatement
2.	A control deficiency that allows more than a reasonable possibility of material misstatement.

9.	Date audit report issued.

11.	Opinion type issued when one or more significant deficiencies exist.

14.	Section of the Sarbanes-Oxley Act that requires the audit of internal control over financing reporting.
15.	Section of the Sarbanes-Oxley Act that requires the compilation of interim information.