ACCT 444 Week 4 Quiz
ACCT 444 Week 4 Quiz
ACCT 444 Week 4 Quiz
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2. (TCO 5)<br />
Sarbanes-<br />
Oxley<br />
requires<br />
management<br />
to issue an<br />
internal<br />
control report<br />
that includes<br />
two specific<br />
items. Which<br />
of the<br />
following is<br />
one of these<br />
two<br />
requirements?<br />
(Points : 3)<br />
A statement that management is responsible for establishing and maintaining an adequate<br />
internal control structure and procedures for financial reporting<br />
A statement that management and the board of directors are jointly responsible for establishing<br />
and maintaining an adequate internal control structure and procedures for financial reporting<br />
A statement that management, the board of directors, and the external auditors are jointly<br />
responsible for establishing and maintaining an adequate internal control structure and<br />
procedures for financial reporting<br />
None of the above<br />
2. (TCO 5)<br />
Internal<br />
control<br />
reports<br />
issued by<br />
public<br />
companies<br />
must<br />
identify the<br />
framework<br />
used to<br />
evaluate the<br />
effectiveness<br />
of internal<br />
control.
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