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Question 1.1. (TCOs B and C) (CPA-05615.B) Jackson is auditing the financial statements of Saffer Company, an issuer. Which of the following is true? (Points : 10)
Jackson is not required to audit internal control, but should report any significant deficiencies or material weaknesses noted.
Saffer is required to obtain an audit of its internal control, but a professional other than Jackson may be hired for this purpose.
Jackson is required to audit and report on Saffer’s internal control.
If Jackson provides an adverse opinion on the financial statements, an audit of Saffer’s internal control is not permitted.