DeVry ACCT 444 Week 1-5 Complete Quizzes

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Chapter 9 ACCT 444 Week 4 Quiz 1. (TCO 5) Which of the following is responsible for establishing internal controls for a public company? (Points : 3) Management Financial statement auditors Management and auditors Committee of Sponsoring Organizations 1. (TCO 5) Which of the following parties provides an assessment of the effectiveness of internal control over financial reporting for public companies? (Points : 3) Management Financial statement auditors Management and the financial statement auditors Committee of Sponsoring Organizations 1. (TCO 5) Which of the following is responsible for establishing a private company’s internal control? (Points : 3) Management Auditors Management and auditors Committee of Sponsoring Organizations 2. (TCO 5) Which section of the Sarbanes-Oxley Act requires management to issue an internal control report? (Points : 3) 202
203 404 408 2. (TCO 5) Sarbanes-Oxley requires management to issue an internal control report that includes two specific items. Which of the following is one of these two requirements? (Points : 3) A statement that management is responsible for establishing and maintaining an adequate internal control structure and procedures for financial reporting A statement that management and the board of directors are jointly responsible for establishing and maintaining an adequate internal control structure and procedures for financial reporting A statement that management, the board of directors, and the external auditors are jointly responsible for establishing and maintaining an adequate internal control structure and procedures for financial reporting None of the above 2. (TCO 5) Internal control reports issued by public companies must identify the framework used to evaluate the effectiveness of internal control. Which of the following is the most common framework in the U.S.? (Points : 3) Effective Internal Control Framework-AICPA Internal Control-Integrated Framework-COSO Enterprise Internal Control-COSO There is no common framework used in the U.S. 3. (TCO 5) Which of the following activities would be least likely to strengthen a company’s internal control? (Points : 3) Separating accounting from other financial operations Maintaining insurance for fire and theft Fixing responsibility for the performance of employee duties
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Page 3 and 4: 7. (TCO 3) Independence in auditing
Page 5 and 6: Question 8. 8. (TCO 3) Several mont
Page 7 and 8: the amount of the damages suffered
Page 9 and 10: Chapter 6 6. (TCO 3) Which of the f
Page 11 and 12: 10. (TCO 3) Which of the following
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Page 17 and 18: Interview client personnel to bette
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DeVry ACCT 444 Week 1-5 Complete Quizzes

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