Reports on an entity's internal control over financial reporting
A) Is required for all companies whether they report to the SEC or not.
B) Is optional for all companies whether they report to the SEC or not.
C) Is required by the PCAOB for large public companies and may be performed by a CPA for nonpublic companies.
D) Is limited to inquiry and analytical procedures for reports for non-SEC companies.

Question

Quizplus · Accepted Answer

The PCAOB requires large public companies to have an audit of their internal control over financial reporting, which must be performed by a CPA. Nonpublic companies are not required to have this audit, but it may be performed voluntarily.

Reports on an Entity's Internal Control Over Financial Reporting