For Publicly Listed Companies, the Auditor Also Issues Which of the Following

question 125

Multiple Choice

For publicly listed companies, the auditor also issues which of the following reports in addition to a report containing the auditor's opinion?

• A) a report on internal control over financial reporting
• B) a report on compliance with the Foreign Corrupt Practices Act (FCPA)
• C) a report on compliance with generally accepted accounting principles only
• D) a report on compliance with the Federal Securities Act

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Definitions:

Uncollectible Check

A check that cannot be processed because the maker’s bank account has insufficient funds or the account is closed.

Periodic Payments

Regular payments made over a specified period, such as monthly rent or quarterly insurance premiums.

Bank Statement

A summary of financial transactions that occurred over a given period on a bank account held by a person or business with a financial institution.

Outstanding Checks

Checks that have been written and recorded in the accounting records but have not yet been cashed or cleared by the bank.