Which Statement About Internal Controls Is FALSE

question 161

Multiple Choice

Which statement about internal controls is FALSE?

• A)Public companies must issue a report on internal control.
• B)Outside auditors must evaluate and report on the soundness of a company's internal controls.
• C)The Public Company Accounting Oversight Board oversees the audits of public companies.
• D)Because reports on internal control are issued with the financial statements, an accounting firm may both audit a public client and provide certain consulting services for the same client.

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Definitions:

Formal Arguments

Parameters specified in the function definition, representing the values that will be passed to the function upon its call.

Parameters

Variables listed as part of a function's declaration/definition, representing values passed into the function.

Function Declarator

Describes the name, return type, and parameters of a function, defining its interface in a program.

Function Prototype

A declaration of a function that specifies its name, return type, and its parameters types, used for type checking in languages like C.