an auditor most likely would be responsible for communicating significant deficienci 602472

An auditor most likely would be responsible for communicating significant deficiencies in the design of internal control

1. To the Securities and Exchange Commission when the client is a publicly held entity.
2. To specific legislative and regulatory bodies when reporting under Government Auditing Standards.
3. To a court-appointed creditors’ committee when the client is operating under Chapter 11 of the Federal Bankruptcy Code.
4. To shareholders with significant influence (more than 20% equity ownership) when the reportable conditions are deemed to be material weaknesses.