The Committee of Sponsoring Organizations of the Treadway Committee (COSO) analyzed the financial reporting of public companies during the 1998-2007 periods when business failures due to accounting fraud were high and found that:
A) Top management was frequently involved in the fraud with the CEO and/or CFO being the most frequently involved
B) The most common fraud technique involved understating expenses
C) The audit committee always sanctioned the fraud
D) A minority of audit reports issued during the fraud period contained unqualified audit opinions

Question

Quizplus · Accepted Answer

The Answer is A