Management's report on internal controls must include each of the following except
A) A statement that management is responsible for establishing and maintaining adequate internal control over financial reporting.
B) A statement identifying the framework management uses to evaluate the effectiveness of the company's internal control.
C) A statement providing management's assessment of the effectiveness of the company's internal control.
D) A statement providing management's evaluation of the company's control environment.

Question

Quizplus · Accepted Answer

All of the options given are required components of management's report on internal controls except for D, which is not explicitly required. However, evaluating the control environment is a commonly included component of such a report, so it may be included even though it is not strictly required.

Management's Report on Internal Controls Must Include Each of the Following