Internal control audit refers to the process where an internal auditor assesses the operational efficiency of an organization by ensuring its accountability. The internal control audit if performed in the right way can help in auditing of the financial statements. To choose: The false statement regarding internal control documentation of management for financial reporting.

Question

Which of the following is NOT a requirement in management’s report on the effectiveness of internal controls over financial reporting?a. A statement of management’s responsibility for establishing and maintaining adequate internal control user satisfaction. b. A statement that the organization’s internal auditors have issued an attestation report on management’s assessment of the company’s internal controls. c. A statement identifying the framework management uses to conduct its assessment of internal controls. d. An explicit written conclusion as to the effectiveness of internal control over financial reporting.

Answer 1

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Chapter 3, Problem 31CYBK

To determine

Introduction: Internal control audit refers to the process where an internal auditor assesses the operational efficiency of an organization by ensuring its accountability. The internal control audit if performed in the right way can help in auditing of the financial statements.

To choose: The false statement regarding internal control documentation of management for financial reporting.

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