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You are testing controls in relation to income from the sales of non-current assets and you have discovered numerous failings in the arithmetical and accounting controls such that you believe that the figure in the financial statements may be materially overstated. Which of the following statements are true in relation to the section of the management letter dealing with this subject? You should: A. Record all failures in the operation of the system but you should not draw conclusions as to the potential consequences or make recommendations for improvements in the system. B. Make reference to significant failings in the main part of the letter, and make reference to insignificant failings in an appendix to the letter. C. Only make reference to significant deficiencies and you should ignore all immaterial weaknesses. D. Not make reference to the fact you consider that many of the failings are due to the inadequacy of the design of the system. E. Normally not need to communicate information concerning a significant deficiency of which management are aware and in respect of which appropriate action has been taken. |