In an Audit Report on the Effectiveness of ICFR for a Public

question 59

Multiple Choice

In an audit report on the effectiveness of ICFR for a public company, to what does the basis of opinion paragraph make a reference?

• A)Registration with the PCAOB and independence requirements of the SEC and other federal securities laws
• B)The financial statement audit report and the type of opinion that was given on the financial statements.
• C)The COSO Internal Control-Integrated Framework as the criteria used as the basis for determining if ICFR are effective.
• D)A definition of ICFR that is taken directly from PCAOB AS 2201.

---

Definitions:

Dendrites

Branch-like extensions of neurons that receive signals from other nerve cells and conduct them toward the cell body.

Cerebrum

The largest part of the brain, responsible for voluntary activities, cognition, memory, and learning; it is divided into two hemispheres.

Thalamus

A brain structure that acts as a relay station for sensory and motor signal inputs to the cerebral cortex, except for the sense of smell.

Limbic System

A complex system of nerves and networks in the brain, involved in emotions such as fear and pleasure, as well as instincts and mood.