Which of the following statements is false?
A) The PCAOB focuses on the financial reporting objective of internal controls.
B) Management is required to base internal controls on a recognized control framework.
C) Most U.S. companies use the internal control framework developed by COSO in the early 1990s.
D) All controls relevant to financial reporting are accounting controls.

Question

Quizplus · Accepted Answer

Not all controls relevant to financial reporting are accounting controls. Internal controls can also include non-accounting controls such as IT controls or operational controls.

Which of the Following Statements Is False