A report 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 provide a report on their internal control over financial reporting, while nonpublic companies may choose to have a CPA perform the report. It is not required for all companies and is not limited to inquiry and analytical procedures for non-SEC companies.

A Report on an Entity's Internal Control Over Financial Reporting