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

The basis of opinion paragraph in an audit report on the effectiveness of Internal Control over…

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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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

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