The PCAOB places responsibility for the reliability of internal controls over the financial reporting process on
A) the company's board of directors.
B) the audit committee of the board of directors.
C) management.
D) the CFO and the independent auditors.

Question

Quizplus · Accepted Answer

The PCAOB places responsibility for the reliability of internal controls over the financial reporting process on management, which includes the CEO and CFO. This responsibility includes designing, implementing, and maintaining internal controls that will ensure the company's financial statements are accurate and reliable. While the board of directors and the audit committee provide oversight and review, the primary responsibility lies with management to ensure the effectiveness of internal controls.

The PCAOB Places Responsibility for the Reliability of Internal Controls