The Statement of Management's Responsibility for Internal Control Indicates All

question 118

Multiple Choice

The statement of management's responsibility for internal control indicates all of the following EXCEPT:

• A)that management is responsible for establishing and maintaining an adequate system of internal control.
• B)that management has conducted an assessment of internal control over financial reporting based on the framework established by the Committee of Sponsoring Organizations of the Treadway Commission.
• C)that management states that the internal controls of the company have been audited by the company's outside auditors and refers to their report.
• D)that management states that the internal controls of the company have been designed by the company's outside auditors.

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Definitions:

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The vocalized form of human communication that involves articulated sounds and words to convey messages and express thoughts.

Segments

Divisions or parts of a whole, often used to describe sections of organisms or structures within them.

Rates

Quantitative measures that represent a relationship between two quantities, showing how one quantity changes in relation to another.

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The frequency of a periodic event happening within a specified time interval.