Good, Better, & Best, CPAs, has audited the financial statements of A Very Fine Co and, in the process identified several significant deficiencies in internal control. There are a couple of issues that may be difficult to explain and they are wondering by what date they are required to provide the written communication regarding internal control related matters. 1. Which title of Professional Standards addresses this issue & will be helpful in understanding when the written communication is required? 2. What is the exact section and paragraph? Solution The related standard is ISA 265 Communicating significant deficiences in internal control. The date should be always better before the date of financial statements and notes.The communications should be made no later than 60 days following the report release date. And as per para 11 & 12 of section 265 the auditor has to communicate significant deficiencies to those tharged with governance and management..

1. Good, Better, & Best, CPAs, has audited the financial statements of A Very Fine Co and, in the
process identified several significant deficiencies in internal control. There are a couple of issues
that may be difficult to explain and they are wondering by what date they are required to provide
the written communication regarding internal control related matters. 1. Which title of
Professional Standards addresses this issue & will be helpful in understanding when the written
communication is required? 2. What is the exact section and paragraph?
Solution
The related standard is ISA 265 Communicating significant deficiences in internal control.
The date should be always better before the date of financial statements and notes.The
communications should be made no later than 60 days following the report release date.
And as per para 11 & 12 of section 265 the auditor has to communicate significant deficiencies
to those tharged with governance and management.