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Question

Which of the following auditor concerns most likely could be so serious that the auditor concludes that a financial statement audit cannot be performed?

Accepted Answer

There is a substantial risk of intentional misapplication of accounting principles.

Answer

Management fails to modify prescribed internal controls for changes in information technology.

Answer

Internal control activities requiring segregation of duties are rarely monitored by management.

Answer

Management is dominated by one person who is also the majority stockholder.

Which of the following auditor concerns most likely could be so serious that the auditor concludes that a financial statement audit cannot be performed?

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