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:

Decertifying

The process of revoking or withdrawing certification or official recognition, often used in the context of labor unions or professional certifications.

Removing Union

The process or action of eliminating a labor union's presence or influence within a workplace or company.

Optimal Experience

A state of happiness and satisfaction characterized by absorption in a challenging and personally rewarding task.

Self-consciousness

An acute sense of self-awareness that makes an individual overly aware of their own actions, appearances, or feelings, often leading to feelings of awkwardness or embarrassment.