Management of large public companies is required to report on its internal controls with its financial statements.This report is required to include all of the following except:
A)its responsibility for control of financial reporting.
B)the framework used for internal control.
C)an assessment of the effectiveness of the company's internal control
D)the statement that the company is not required to have an audit on internal control.

Question

Quizplus · Accepted Answer

The report is required to include the company's responsibility for control of financial reporting, the framework used for internal control, and an assessment of the effectiveness of the company's internal control. However, it is not required to include a statement that the company is not required to have an audit on internal control. In fact, if the company's auditor has identified any material weaknesses in the company's internal control, the report must disclose this information.

Management of Large Public Companies Is Required to Report on Its